The transaction leaves the firm’s existing leadership structure intact, with CEO Tom Manning continuing to guide the $11 billion asset manager. While financial terms remain undisclosed, the partnership marks a transition for FLP, which recently concluded a four-year relationship with Emigrant Partners. Employees will retain a significant equity stake in the firm as it moves into this next phase of development.

For Bixby, the investment represents a play into the independent wealth management sector, utilizing backing from Carlyle’s Global Credit business to provide scalable growth capital. Russell Valdez, founder of Moontower Group, cited FLP’s established brand and internal culture as primary drivers for the deal. Ardea Partners LP acted as the exclusive financial advisor for the transaction, which aims to bolster FLP’s long-term service capabilities for its diverse base of family offices, endowments, and individual clients.