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Pennington Partners & Co., LLC

Multifamily office listing in Bethesda, Maryland, United States.

  • SEC-registered
  • Founded 2016
Regulatory AUM
$5.1 billion
Employees
36
Clients
26-50
Founded
2016

Pennington Partners & Co. is a multifamily office providing investment, wealth planning, and personal financial administration solutions for entrepreneurial founders and their families.1

Overview

Pennington Partners & Co. serves founders, CEOs, wealth creators, and multigenerational families with complex wealth. The firm reports managing more than $3 billion for its founders, families, and clients.1

History

Brian Gaister and Rodd Macklin founded Pennington Partners in 2016.1

Leadership

Brian Gaister is Co-Founder and CEO, leading the firm’s strategy and vision. Rodd Macklin is Co-Founder and Senior Managing Director and serves on the investment committee.23

The broader team includes Michael Rubenstein, Partner and Director of Income & Estate Tax Minimization; Kent Andrews, Partner, Investments; Marilyn Santiago, Partner and Head of Relationship Management; Jill Sheppard Davenport, Partner and Director of Health and Wellness; Keith Kellum, Partner and Portfolio Manager; and Megan Bleil, Partner and Family Office Advisor.4

Services

The firm’s platform includes an operating partnership, alternative-income investing, exit planning, personal financial administration, private-market access, and health and wellness support.1

Pennington Private Access was created primarily for ultra-high-net-worth families, independent investment advisory firms, overseas families seeking North American lower-middle-market private equity, and select institutional investors.5

What the firm offers

  • Investment management
  • Administration and bill pay
  • Business owner services
  • Private and alternative investments

Client Focus

Pennington works with entrepreneurial founders, CEOs, wealth creators, and multigenerational families whose financial affairs are complex. Its private-access platform also serves selected advisory firms, overseas families, and institutional investors.15

Approach

Pennington describes its approach as centered on aligned investing, shared best practices, solutions-driven service, follow-through, and putting partner families first.1

Assets

Pennington Partners reports managing more than $3 billion for its founders, families, and clients.1

By the numbers

Regulatory AUM by year$0K$1.4B$2.8B$4.2B$5.6B201720182019202020212022202320252026
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 282688. As of .
Regulatory assets under management
YearRegulatory AUMDiscretionaryNon-discretionary
2017$94 million$80 million$14 million
2018$483 million$329 million$154 million
2019$707 million$393 million$315 million
2020$776 million$355 million$421 million
2021$1.1 billion$504 million$606 million
2022$1.7 billion$447 million$1.3 billion
2023$1.7 billion$406 million$1.3 billion
2025$4.0 billion$1.7 billion$2.3 billion
2026$5.1 billion$2.4 billion$2.7 billion
Average AUM per client by year$0K$12M$25M$37M$50M20182019202020212022202320252026
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 282688. Regulatory AUM divided by the client count reported in Item 5D. Client types reported as fewer than 5 are not counted, so this is approximate. As of .
Average AUM per client
YearAverage AUM per client
2018$12 million
2019$15 million
2020$16 million
2021$21 million
2022$28 million
2023$27 million
2025$18 million
2026$45 million
Clients by type (2026)High net worth individuals102Pooled investment vehicles10
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 282688. "<5" means the firm reported fewer than 5 clients of that type. As of .
Clients by type
Client typeClients (2026)
High net worth individuals102
Pooled investment vehicles10
Employees by year0102030402016201720182019202020212022202320252026
Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 282688. As of .
Employees reported on Form ADV
YearEmployees
20161
20173
20185
20198
20208
20218
202213
202313
202527
202636

Ranks #3 of 5 SEC-registered firms in MD on MultifamilyOffices.com by regulatory AUM.

Source: SEC Form ADV data (Part 1A, Items 5A, 5D, 5F) via SEC Information About Registered Investment Advisers files and IAPD, CRD 282688. Ranking uses only firms profiled on MultifamilyOffices.com. As of .

FAQs

What is Pennington Partners & Co.?

Pennington Partners & Co. is a multifamily office offering investment, wealth planning, and personal financial administration solutions for entrepreneurial founders and their families.1

Who does Pennington Partners serve?

The firm describes its clients as founders, CEOs, wealth creators, and multigenerational families with complex wealth.1

Is Pennington Partners registered with the SEC?

Pennington Partners & Co., LLC is listed in the SEC Investment Adviser Public Disclosure system under CRD number 282688.6

  • LocationMultifamily offices in Bethesda

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  • GuideData privacy and security with an MFO

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Sources

  1. Pennington Partners & Co.
  2. Brian Gaister
  3. Rodd Macklin
  4. Our Team
  5. Pennington Private Access
  6. SEC Investment Adviser Public Disclosure: Pennington Partners & Co., LLC

Claim or correct this profile

This profile is a factual summary written in our own words from public sources. It is for information only. It is not an endorsement, rating, ranking or recommendation, and it is not investment advice. MultiFamilyOffices.com is not affiliated with the SEC or with this firm unless stated. Form ADV figures are self-reported by the firm.

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