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HG Wealth Partners
Herbert Adelman's HG Wealth Partners manages family capital from Chicago, deploying into private credit and real estate after the Del Global Technologies...
HG Wealth Partners
HG Wealth Partners was established by Herbert G. Adelman following the sale of Del Global Technologies Corp., a publicly traded company he led that specialized in medical imaging systems and power conversion equipment. The firm operates as the private investment vehicle for Adelman's family, managing the liquidity event proceeds with a focus on wealth preservation and steady income generation rather than venture-style growth. The firm's investment strategy is concentrated in private credit origination and income-producing real estate. HG Wealth Partners provides bespoke financing solutions — including bridge loans and mezzanine debt — to middle-market companies, often in sectors adjacent to Adelman's operational background like industrial technology and healthcare services. On the real estate side, the firm favors stabilized, cash-flowing assets in major Midwestern markets, reflecting a tangible-asset bias common among first-generation wealth creators. The office is lean by design, reflecting its single-principal origin and conservative cost structure. No adjacent philanthropic foundation or operating company is registered under the Adelman name. In September 2023, the firm was noted as an active participant in a private real estate debt fund managed by a Chicago-based sponsor, signaling a pragmatic willingness to commit via funds when direct origination capacity is constrained (per public real estate filings). HG Wealth Partners embodies the structural posture of a 'preservation office' — it does not market to outside capital, operate a co-investment platform, or publish a strategy outlook. Its primary differentiator is a principal who personally evaluates every deal through an operator's underwriting lens, filtering for cash-flow durability and tangible asset coverage in a way institutional committees often bypass.
General information
Firm type
Single Family Office
Year founded
—
AUM
$200M - $500M (Altss estimate)
Location
Region
North America
Country
United States
City
Chicago
Corporate office
Chicago, IL, United States
Principals
Herbert G. Adelman
Founder
Sector focus
Frequently asked questions
Who makes investment decisions at HG Wealth Partners?
Herbert G. Adelman, the firm's founder and sole principal, makes all material investment decisions. The firm does not maintain an investment committee structure or delegate authority to external managers without direct oversight. Adelman's operational background at Del Global Technologies informs a credit-heavy underwriting approach that emphasizes asset coverage and contractual cash flows.
What is the wealth origin behind HG Wealth Partners?
The wealth originates from the sale of Del Global Technologies Corp., a manufacturer of medical imaging and power conversion equipment where Adelman served as CEO and a major shareholder. The company was publicly traded on the NYSE before being taken private, generating the liquidity that seeded the family office.
Does HG Wealth Partners accept outside capital?
No. HG Wealth Partners is structured strictly as a single-family office and does not accept outside limited partners, manage third-party mandates, or operate as a multi-family office. All investment activity is conducted solely for the Adelman family balance sheet.
What investment sectors does HG Wealth Partners focus on?
The firm concentrates on private credit origination — including bridge loans and mezzanine debt for middle-market companies — and income-producing real estate. Sector adjacency is weighted toward industrial technology and healthcare services, reflecting the principal's domain expertise from Del Global Technologies.
How does HG Wealth Partners source its deals?
Deal flow is primarily relationship-driven, sourced through Adelman's direct network of Chicago-based real estate sponsors, commercial lenders, and middle-market intermediaries. The firm does not operate a visible proprietary origination platform or participate in competitive auction processes where institutional scale is a prerequisite.
Does HG Wealth Partners maintain any philanthropic structures?
No named philanthropic foundation is publicly associated with Herbert Adelman or HG Wealth Partners. Charitable giving, if any, is conducted privately and is not structured through a separate operating entity visible in public records.
What is the firm's posture on co-investing alongside other family offices?
HG Wealth Partners participates in club-style real estate debt funds alongside other Chicago-based sponsors, indicating a pragmatic willingness to co-invest when the structure aligns with its preservation mandate. It does not operate a formal co-investment club or syndication vehicle of its own.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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