Mariner Wealth Advisors Seeks $150 Million in Debt
The firm will use the funds for acquisitions as its total debt load climbs to $1.3 billion.
Updated on Oct. 22, 2026 in Corporate Finance
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Mariner Wealth Advisors is seeking $150 million in additional debt to fund near-term acquisitions, a move that will push the firm's total first-lien term loan to $1.3 billion. The capital injection coincides with the firm's acquisition of Jupiter, Florida-based Atlantic Wealth Partners.
Why it matters
The debt increase reflects a broader strategy of using leverage to scale assets under management, which stood at $660 billion as of June 30, 2026. For operators, the move underscores the aggressive consolidation trend within wealth management and the heightened debt-to-EBITDA ratios firms are willing to carry to fuel growth.
Moody's assigned a B1 rating to the $1.3 billion total debt load, which compares to a 4.9x leverage ratio reported in June. The firm manages $660 billion in assets and most recently acquired Atlantic Wealth Partners, which holds $218 million in assets.
The players
Mariner Wealth Advisors
A wealth management firm with $660 billion in client assets that executes growth through external acquisitions.
Moody's
A credit rating agency that evaluates the financial health and debt obligations of corporations.
Atlantic Wealth Partners
A wealth management firm holding $218 million in assets based in Jupiter, Florida.
Leonard Green & Partners
A Los Angeles-based private equity firm that holds a minority stake in Mariner Wealth Advisors.
Neuberger Berman Capital Solutions
An investment firm that provides capital solutions and holds a minority stake in Mariner Wealth Advisors.
The details
The $150 million will function as a fungible incremental add-on to the firm's existing first-lien term loan B. While the firm currently faces a rise in projected leverage to 6.7x EBITDA by year-end, Moody's anticipates the firm will undergo significant deleveraging over the next year. The firm's capital structure has shifted over time, incorporating minority investments from Leonard Green & Partners and Neuberger Berman Capital Solutions.
Timeline
2021: Leonard Green & Partners acquired a minority investment.
2024: Neuberger Berman acquired a minority stake.
June 30, 2026: Mariner's debt to EBITDA ratio reached 4.9x.
October 2026: Mariner announced plans to borrow $150 million.
Year-end 2026: Leverage is expected to reach 6.7x EBITDA.
Market Landscape
The wealth management industry consolidation trend remains a dominant force, as firms continue to utilize private equity backing to fuel rapid inorganic growth. This strategy follows the pattern of established players leveraging their balance sheets to integrate smaller regional firms.
Operators in the wealth management sector should monitor their own debt-to-EBITDA ratios as the industry faces pressure to deleverage after aggressive acquisition cycles. Maintain close communication with your capital partners regarding interest coverage sensitivities if borrowing costs remain elevated.
The takeaway
The move demonstrates that even well-capitalized firms are willing to spike leverage ratios temporarily to secure market share. Monitor the credit rating trajectory of your industry peers as a signal for the cost and availability of debt for future firm expansions.
Further reading
For broader trends in firm financing, see our analysis on Corporate Finance.
Source note: This article includes information reported by WealthManagement.
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