WTW announces strategic acquisition of FlowStone Partners, enhancing its Wealth offerings
Rhea-AI Summary
WTW (NASDAQ: WTW) announced on Dec 1, 2025 the acquisition of FlowStone Partners, an alternative investment firm focused on private equity secondaries for individual wealth and institutional clients.
The deal is intended to expand access to private markets for individual investors and strengthen WTW’s private markets capabilities, combining FlowStone’s secondaries expertise with WTW’s global scale, research and analytics. The transaction requires shareholder approval of FlowStone’s managed fund and its independent trustee board and other customary closing conditions, with completion expected by early 2026.
Positive
- Expands private equity secondaries access for individual wealth investors
- Enhances WTW private markets capabilities and analytics
- Combines FlowStone expertise with WTW global distribution
Negative
- Transaction subject to FlowStone fund shareholder and trustee approval
Insights
WTW's purchase of FlowStone expands private markets capabilities for both retail and institutional channels.
The deal adds a specialized private equity secondaries capability to WTW by folding in FlowStone's expertise and relationships. This should broaden product scope across discretionary and non-discretionary investment management and retirement planning, creating more turnkey private-markets offerings for wealth clients.
Principal dependencies include shareholder and independent-trustee approvals and customary closing conditions, targeted to complete by
The acquisition aims to unlock private equity secondaries for individual wealth investors via liquid, accessible structures.
Combining FlowStone's secondaries focus with WTW's sourcing network, research engine, and analytics should enable packaged access to private markets for individual clients. If executed as described, this widens client solutions and could enhance product differentiation in private markets for wealth channels.
Key risks include approval by FlowStone’s fund shareholders and independent trustee board and the quality of any new vehicle structures. Monitor trustee votes and any announced product launches or distribution timelines through
NEW YORK, Dec. 01, 2025 (GLOBE NEWSWIRE) -- WTW (NASDAQ: WTW), a leading global advisory and solutions company, today announced the acquisition of FlowStone Partners, LLC, an alternative investment firm with highly specialized expertise in private equity secondaries for individual wealth and institutional clients. This acquisition will expand innovative, high-quality access to private equity for individual wealth investors, while enhancing WTW’s ability to bring leading private markets investment capabilities and innovation to institutional clients.
“We are excited to expand the opportunity set for both institutional and individual wealth investors, pairing FlowStone’s seasoned expertise in secondaries investing with WTW’s global scale, sourcing network and research engine. The acquisition meaningfully expands WTW’s ability to serve clients’ evolving needs and deliver differentiated private market solutions. This is a bold venture in the future of private equity secondaries investing,” said Diya Luke, global head of Investments, WTW.
"By unlocking access to high-quality, private markets through liquid, accessible structures, this acquisition strengthens our ability to deliver best-in-class solutions for individual and institutional investors alike - helping more people achieve stronger long-term outcomes,” said Nimisha Srivastava, head of Investments, North America, WTW.
“Combining FlowStone’s deep expertise in private equity secondaries with WTW’s global scale in discretionary and non-discretionary investment management and retirement planning creates a powerful platform positioned to meet the evolving needs of investors across these growing markets. We’re excited to bring our experience, relationships, and proven track record to WTW’s expanding suite of alternative investment solutions,” said Scott Conners, President of FlowStone Partners.
“WTW’s deep investment research capabilities, advanced analytics, and commitment to innovation will help our investors stay ahead of the curve as new solutions expand access to the benefits of private markets,” added Michael Carrano, Managing Director and Investment Committee Member of FlowStone Partners.
The transaction is subject to the approval of the shareholders of FlowStone’s managed fund and the fund’s independent trustee board, as well as other customary closing conditions. We expect to complete these steps by early 2026.
About WTW Investments
WTW’s Investments business is focused on creating financial value for end investors through its expertise in risk assessment, strategic asset allocation, fiduciary management and investment manager selection. It has over 900 colleagues worldwide, more than 1,000 investment clients globally, assets under advisory of over US
About WTW
At WTW (NASDAQ: WTW), we provide data-driven, insight-led solutions in the areas of people, risk and capital. Leveraging the global view and local expertise of our colleagues serving 140 countries and markets, we help organizations sharpen their strategy, enhance organizational resilience, motivate their workforce and maximize performance.
Working shoulder to shoulder with our clients, we uncover opportunities for sustainable success—and provide perspective that moves you.
Learn more at wtwco.com.
About FlowStone Partners
FlowStone Partners is a premier alternative investment firm specializing in private equity secondaries investing, delivering innovative portfolio construction, risk management, and client solutions. FlowStone is respected for its entrepreneurial spirit, commitment to excellence, and a collaborative approach to client success.
WTW Forward Looking Statements
We have included in this document ‘forward-looking statements’ within the meaning of Section 27A of the Securities Act of 1933, and Section 21E of the Securities Exchange Act of 1934, which are intended to be covered by the safe harbors created by those laws. These forward-looking statements include information about possible or assumed future results of our operations. All statements, other than statements of historical facts, that address activities, events or developments that we expect or anticipate may occur in the future, including such things as: our outlook; the potential impact of natural or man-made disasters like health pandemics and other world health crises; future capital expenditures; ongoing working capital efforts; future share repurchases; financial results (including our revenue, costs or margins) and the impact of changes to tax laws on our financial results; existing and evolving business strategies including those related to acquisition and disposition; demand for our services and competitive strengths; strategic goals; the benefits of new initiatives; growth of our business and operations; the sustained health of our product, service, transaction, client, and talent assessment and management pipelines; our ability to successfully manage ongoing leadership, organizational and technology changes, including investments in improving systems and processes; our ability to implement and realize anticipated benefits of any cost-savings initiatives generated from our now-completed multi-year operational transformation program or other expense savings initiatives; our recognition of future impairment charges; and plans and references to future successes, including our future financial and operating results, short-term and long-term financial goals, plans, objectives, expectations and intentions, including with respect to free cash flow generation, adjusted net revenue, adjusted operating margin and adjusted earnings per share, are forward-looking statements. Also, when we use words such as ‘may’, ‘will’, ‘would’, ‘anticipate’, ‘believe’, ‘estimate’, ‘expect’, ‘intend’, ‘plan’, ‘continues’, ‘seek’, ‘target’, ‘goal’, ‘focus’, ‘probably’, or similar expressions, we are making forward-looking statements. Such statements are based upon the current beliefs and expectations of WTW’s management and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. All forward-looking disclosure is speculative by its nature.
Media Contacts
WTW:
Ileana Feoli: +1 212 309 5504
Ileana.feoli@wtwco.com
FlowStone Partners:
Investor Relations
Mark Phillip, Managing Director
mphillip@flowstonepartners.com
312-429-2489
Media Contact
Chris Sullivan
chris@craftandcapital.com
(917) 902-0617
FAQ
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