Rosemont Investment Partners LLC will assume a minority stake in Hartland & Co. LLC as part of a management-led recapitalization effort.

Under the transaction, a number of current and new Hartland employee shareholders will invest with Rosemont, a West Conshohocken, Pa.-based private equity firm.

Founded in 1989, Hartland is a Cleveland-based wealth management and institutional adviser. Silver Lane Advisors LLC advised Hartland on the transaction.