Carnegie Buys Eagle Ridge
Carnegie, a registered investment advisor managing approximately $5 billion in assets as of December 31, 2024, is acquiring Eagle Ridge Investment Management. The acquisition, effective as of February 4, 2025, grows the firm’s AUM and personnel by over 25%, bringing in an additional $1.3 billion in AUM and integrating 14 experienced employees.
“We’re honored to welcome the team at Eagle Ridge to our organization,” says Richard Alt, CEO and principal for Carnegie. “Carnegie has built a rich history of outstanding service and a commitment to developing a team of effective and experienced advisors. Growth has always been essential to our success, and this acquisition represents an exciting next step in our firm’s development. The experience and capabilities coming from the Eagle Ridge team will be a valuable asset as we foster our continued growth and expand our reach to new markets across the Northeast.”
Under the terms of the deal, Eagle Ridge’s leadership and full staff will remain in place.
“Our dedication has always been about making client satisfaction a top priority,” says David Laidlaw, Managing Partner and Portfolio Manager for Eagle Ridge. “By joining forces with the premier team at Carnegie, we’re able to grow our resources and offerings to better serve those clients while maintaining the high-touch, personalized approach they have come to expect. Carnegie’s reputation for client service and accountability is in natural alignment with our mission, and we look forward to partnering with their established team.”
Berkshire Global Advisors served as financial advisor, and Alston & Bird acted as legal counsel to Eagle Ridge Investment Management in the transaction. Carnegie Investment Counsel was advised by Schneider Smeltz Spieth Bell LLP as legal counsel.
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Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
