Citrin Cooperman Advisors LLC, a prominent tax, advisory, and accounting firm, has announced a significant investment from Blackstone, a leading private equity firm. This investment involves Blackstone acquiring its stake in Citrin Cooperman from New Mountain Capital, which has supported the firm for the past three years.

Founded in 1979, Citrin Cooperman serves over 15,000 clients globally, focusing on middle-market businesses and high-net-worth individuals. CEO Alan Badey expressed enthusiasm about the partnership with Blackstone, highlighting plans for growth through enhanced service offerings and technology investments. He also acknowledged New Mountain's contributions to the firm's development.

Blackstone's Senior Managing Director Eli Nagler and Managing Director Kelly Wannop praised Citrin Cooperman's commitment to excellence and client service, expressing excitement about the investment's potential to elevate the firm's offerings. New Mountain's Managing Directors, Andre Moura and Nikhil Devulapalli, reflected on their successful partnership with Citrin Cooperman and expressed confidence in the firm's future.

The financial terms of the transaction remain undisclosed. Deutsche Bank Securities Inc. is advising Blackstone, while Guggenheim Securities, LLC is the lead financial advisor for New Mountain and Citrin Cooperman. Legal counsel for Blackstone includes Kirkland & Ellis LLP and Gibson, Dunn & Crutcher LLP, while New Mountain and Citrin Cooperman are advised by Simpson Thacher & Bartlett LLP and others.

Citrin Cooperman is recognized as one of the largest professional services firms in the U.S., recently ranking #18 on Accounting Today's "Top 100 Firms" list. The firm prides itself on its client-centric approach, integrity, and deep industry expertise, employing over 2,800 professionals across its various services.

Blackstone, the world's largest alternative asset manager, manages over $1.1 trillion in assets, focusing on delivering strong returns through strategic investments across various sectors. New Mountain Capital, based in New York, emphasizes growth and business building, managing approximately $55 billion in assets.

This investment marks a new chapter for Citrin Cooperman, positioning it for continued growth and enhanced service delivery in the competitive professional services landscape.