Merrillville investment firm invests in New York wealth management company
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Merrillville-based private investment firm 119th Street Capital has completed a strategic investment in Maridea Wealth Management, a wealth management firm headquartered in New York City.
119th Street Capital, which specializes in the financial services sector, declined to specify the amount of the investment, which also included participation from Pelican Capital in New York.
The investment firm said the move will support Maridea’s continued growth and expansion, while enhancing its service offerings.
“Maridea, with its relationship-based, people-first culture, perfectly aligns with 119th Street Capital’s investment philosophy,” Managing Partner Anthony Contrucci said in a news release. “We believe in their vision and are excited to partner with Pelican to support Maridea’s continued growth.”
Founded in 2023, Maridea provides a variety of services, including financial planning, investment management, insurance and risk management, and retirement and multi-generational planning.
The firm currently employs 27 people and does not have a presence in Indiana, according to a 119th Street Capital spokesperson.