GeoWealth raises $38M series C led by Apollo to expand private market access for advisors

Registered investment advisors are feeling the pressure to meet growing client demand for more diverse investment options—including access to private markets, which have long been difficult for smaller firms to tap. Now, GeoWealth, a Chicago-based turnkey asset management platform, is stepping in with fresh backing and a plan to make private investments more accessible to financial advisors.

GeoWealth announced today it has raised $38 million in Series C funding led by Apollo, the investment giant known for its private equity and alternative asset strategies. As part of the deal, GeoWealth and Apollo are forming a strategic partnership to give advisors easier access to public-private model portfolios—an offering traditionally reserved for institutional players.

The Series C round also includes previously disclosed investments from BlackRock, J.P. Morgan Asset Management, and Kayne Anderson Capital Advisors, through Composition Capital.

With $38M Funding, GeoWealth Aims to Boost Access to Private Markets for RIAs

With the new capital, GeoWealth plans to build out its UMA (unified managed account) capabilities, grow its team, and deepen product development. It also used part of the funding to acquire the TAMP assets from Freedom Advisors, a move that adds to its scale.

“With Apollo joining as a strategic investor and partner, we’re accelerating our commitment to building unified public-private model portfolios and supporting advisors with the flexible technology, investment choice, and resources they need to deliver customized solutions,” said Colin Falls, CEO of GeoWealth. “Advisors are seeking turnkey access to private markets, and our tech-enabled implementation platform will allow them to run a models-based practice with the flexibility and breadth to meet complex client needs.”

GeoWealth isn’t new to this space. Founded in 2010 by Michael O’Shaughnessy, the company has spent over a decade building technology aimed at simplifying the way advisors manage portfolios. Its platform offers model portfolios, performance reporting, billing, and back-office tools—giving smaller firms access to infrastructure usually associated with much larger players. The new partnership with Apollo puts more muscle behind that offering, especially when it comes to private market exposure.

Apollo’s involvement also reflects a broader trend. Private markets are no longer just for institutions and ultra-wealthy clients. There’s a growing appetite among individual investors for access to less correlated, potentially higher-return assets—and firms like Apollo are looking for ways to meet that demand without the usual friction.

“Investors are increasingly looking beyond public markets for greater diversification and differentiated returns,” said Stephanie Drescher, Partner and Chief Client and Product Development Officer at Apollo. “Together with GeoWealth, we are working towards empowering RIAs to build modern portfolios that integrate public and private strategies for their clients.”

As the industry shifts toward more personalized and tech-enabled portfolio management, GeoWealth is betting that public-private integration will be key to staying competitive. And with big-name investors backing that vision, the company’s next chapter looks like one worth watching.