Schulte advises 272 Capital LP in connection with its sale to an affiliate of B. Riley Financial, Inc., a diversified provider of business advisory and financial services. 272 Capital currently manages over $270 million in assets. The transaction aims to strengthen both 272 Capital and B. Riley’s investment offerings for institutional and individual high-net-worth clients. In connection with the transaction, 272 Capital’s founder and CEO, Wes Cummins, will also serve as president of B. Riley Asset Management. The deal closed in August 2021.
The Schulte team advising 272 Capital was led by investment management partner Heather Wyckoff and M&A and securities partner Lawrence Natke. The team also included investment management associate Alexander Sussman; employment & employee benefits partner David Cohen; tax partner David Wermuth and associate Joseph Reich.