CONSHOHOCKEN, PA — PPB Capital Partners is experiencing remarkable growth, driven by new business and an expanding team. By May, capital commitments to PPB surpassed the total commitments for the entire year of 2024, reflecting a robust acceleration in business growth.
Since mid-2021, PPB has doubled its employee count, upgraded its portal technology, and moved to a new office three times larger to support its expanding team. This growth highlights the significant market demand for effective private market programs like those offered by PPB.
“Our growth story is the result of our commitment to the values we started with 18+ years ago and we’ve evolved to meet advisors where they are in their private market journey,” said Brendan Lake, Founder and CEO.
PPB’s growth has been driven by several key factors:
- Record-breaking financials: Fund management service revenue has grown by more than 30% annually since 2019, with double-digit growth in six of the past seven years.
- Enhanced distribution: The company has built out its distribution arm to achieve a national sales footprint, led by Managing Director Evan Deussing, who was appointed in May 2023.
- Improved operations and technology: PPB has significantly enhanced its technology platform, known as the PPB Portal, to better serve wealth advisors.
In Q1 2024, PPB closed a record number of new capital commitments. The company has also strengthened its sales structure, creating a nationwide, eight-territory sales system supported by internal and external advisor relations teams. For the first time, PPB has achieved local coverage in each territory.
“Our plan is to engage with every private wealth RIA across the country that can benefit from our private market access and operational expertise, ultimately helping the private wealth advisor drive meaningful revenue and AUM growth,” said Deussing.
Recognizing the competitive nature of the alternative investing landscape, PPB has expanded its marketing and communications efforts to fuel business growth. In December 2023, Kris Reybitz was appointed as Director of Marketing to lead digital marketing initiatives and enhance the company’s brand.
PPB’s Distribution unit, which includes sales, marketing, and investment teams, now comprises over 20 professionals. The company also hired Michael Weckwerth as Director of Fund Development to lead fund development efforts for wealth advisors, covering legal structure, terms, operating agreements, subscription documents, term sheets, and filings.
To support timely and efficient operations for wealth advisors, PPB has further enhanced its technology platform. Recent advancements to the PPB Portal include a modernized subscription interface, improved DocuSign integration, API connections for investor data transfers, and enhanced security features.
“In connection with our core mission here at PPB, we offer a custom technology solution that solves wealth advisors’ main priorities in a simplified, streamlined manner,” said Amanda Bannon, Chief Operating Officer.
PPB’s technology team has grown to nine people, ensuring continuous improvements and support for the firm’s expanding client base. The company’s ongoing growth and technological advancements position it well to meet the evolving needs of wealth advisors and private market investors.
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