Simpson Thacher is representing affiliates managed by Corsair Capital in connection with its investment in Miracle Mile Advisors, a national award-winning wealth advisor headquartered in Los Angeles, with offices in New York, Chicago and Portland. In conjunction with the transaction, Miracle Mile Advisors intends to combine with Karp Capital Management, creating a national wealth advisory firm with over $4 billion in assets under management. The transactions are expected to be completed in November 2022, subject to customary closing conditions.
Founded in 2007, Miracle Mile provides clients with highly-customized financial advice across all aspects of their balance sheet. Miracle Mile is consistently ranked as one of the Top 50 Fastest Growing RIAs nationally, one of the Best Places to Work for financial advisors, and has multiple Forbes and Barron’s top-ranked advisors. Karp Capital is a wealth management firm based in the San Francisco Bay area. Founded in 2004, Karp Capital Management provides sophisticated financial planning, investment advice and retirement services to high-net-worth individuals and business owners with a specific expertise in the automotive sector.
The Simpson Thacher team includes Sebastian Tiller, Christopher Scavone, Jack Nalen and Humberto Romero Carrillo (M&A); Larry Moss, Linda Barrett and Matias Botto (Executive Compensation and Executive Benefits); Erica Rozow and George Gerstein (ERISA); Jonathan Goldstein, Andrew Mandelbaum and Shareef Salfity (Tax); Christopher Healey, Jessica Patrick and Kaitlyn Bello (Investment Advisory); Lori Lesser, Alysha Sekhon and Mark Nativitad (Intellectual Property); Krista McManus (Real Estate); Michael Isby (Environmental); and Steve DeLott (Insurance).