XO Capital Acquired by Angeles Wealth — Financial Services M&A

Angeles Wealth, a Santa Monica, California-based registered investment adviser with about $2.7 billion in assets under management, has acquired XO Capital in its first deal. The transaction is structured as an add-on acquisition and is intended to seed a new family office division within Angeles Wealth, combining XO Capital’s capabilities with Angeles Wealth’s existing private client, institutional, and private market investing services. The deal size was reported at more than $100 million, with figures also cited around $186 million.

XO Capital will serve as the platform for Angeles Family Office, which is designed to provide tailored wealth planning and investment support for affluent families. The move reflects ongoing consolidation in the U.S. wealth management and RIA market, as independent firms seek to expand service depth and differentiate through family office-style offerings, particularly in California’s high-net-worth client base.

While the announcement confirms the strategic intent to launch the family office division, specific closing timing and advisor details were not provided in the available information.