DLB Capital is Pleased to Announce the Closing of a $100 Million Equity Financing in HighTower

Jan 13, 2010, 13:12 ET from DLB Capital

WILTON, Conn., Jan. 13 /PRNewswire/ -- HighTower, the first open-source, advisor-owned financial services company serving high net worth clients, announced today that it further capitalized for future growth with a $100 million equity financing.  This second round financing was led by Asset Management Finance, DLB Capital, and other incumbent investors.  Douglas Brown, Chairman and CEO, DLB Capital is the Co-Chairman of HighTower.

Drew Kornreich, President of HighTower, commented that "DLB Capital has been with HighTower since the beginning.  We value their participation as we continue to  expand, and thank them for their continued confidence and support, both through their significant investment and through Doug Brown's involvement as Co-Chairman."

"HighTower has proven successful because its open-source model combines the best features of the registered investment advisor and an independent broker-dealer, with the capital and infrastructure to service advisors seeking an alternative to the wirehouse model," said Elliot S. Weissbluth, HighTower's CEO.  "The open-source model pioneered by HighTower embraces multiple custodial and clearing firms, thus improving the quality of service and delivering better prices for our high net worth clients."

"This financing testifies to the leadership of HighTower's two founders, Elliot Weissbluth and Drew Kornreich.  Their vision and management has transformed HighTower from an interesting concept to an industry force in just under two years," commented Douglas Brown, Chairman and CEO of DLB Capital.   "We are proud to be associated with HighTower."

About HighTower

HighTower is the first open-source, advisor-owned financial services company, focused on the needs of wealthy families.  HighTower advisors are experienced investment professionals with large, established practices serving high net worth clients.  As a dually-registered, multi-custodial firm, HighTower provides sophisticated investment solutions as well as an independent and unobstructed view of the markets.  The company is headquartered in Chicago and maintains corporate centers in New York and San Francisco and offices around the country.  See www.hightoweradvisors.com.

Securities offered through HighTower Securities, LLC, Member FINRA/SIPC/MSRB.  HighTower Advisors, LLC is registered with the SEC as an investment adviser.

About DLB Capital, LLC

DLB Capital, LLC is a United States-based firm focusing primarily on the financial services sector and the industries that serve it.  The group was formed by Douglas L. Brown to provide expertise, capital and on-site management to the financial services sector.  DLB's focus is global with an emphasis on the United States and China.