Philanthropic consulting firm Arabella Advisors has acquired another top firm, Redstone Strategy Group, with the goal of expanding its client list, reach, and potential impact on what it called a “rapidly changing world.”
Redstone will now operate as a division of Arabella. With the merger, Arabella is “extending our ability to support foundation clients as they pursue solutions to social problems through partnerships, impact investing, grantmaking, and more,” Rick Cruz, Arabella’s president and CEO, said in a statement Thursday.
Arabella, based in Washington, D.C., is a nearly 20-year-old firm that works with foundations and impact investors along with families and individuals seeking guidance on effective philanthropy. It also provides nonprofit management services and works with corporations such as Hyatt and JPMorgan Chase.