PE-backed fintech Addepar acquires Utah-based AdvisorPeak

Addepar Inc., a Mountain View, Calif.-based wealth management technology platform, acquired Utah-based AdvisorPeak.

AdvisorPeak is a provider of portfolio management tools that support portfolio trading and rebalancing, incorporating client cash management needs, and tax-optimized strategies.

The AdvisorPeak team and technology are now part of Addepar.

Addepar in June raised $150 million in a series F financing round led by D1 Capital Partners LP and now exceeds a $2 billion valuation. It has more than $3 trillion in client assets on its platform.