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July 31, 2024

Litchfield-based investment manager acquired by Ohio firm

A Litchfield-based investment management firm has been acquired by a national company.

Karpas Strategies LLC, which invests money for ultra-high-net-worth families, foundations and trusts, was acquired by Akron, Ohio-based Sequoia Financial Group LLC, according to an announcement Wednesday morning.

The transaction closed Tuesday and financial terms were not disclosed.

Karpas Strategies, founded in 1994 by Matthew Karpas, manages more than $420 million in assets. The firm’s Litchfield office will become Sequoia Financial's second location in New England.

Sequoia Financial has 15 offices in nine states. It had more than $19.3 billion in assets under management as of June 30.

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