Caprock – a leading multi-family office Registered Investment Advisor (RIA) serving ultra-high-net-worth clients – announced the acquisition of Grey Street Capital. Grey Street Capital is a Chicago-based boutique advisory firm with $2.2 billion in client assets.
This deal signifies Caprock’s first acquisition, reflecting the firm’s desire to drive strategic growth and enhance the bespoke services it provides to clients. This combination brings Caprock’s assets under advisement to over $11 billion.
Grey Street will now operate under Caprock’s brand. In addition to Chicago, it has advisors in Scottsdale, Arizona; Winter Park, Florida; and Morris County, New Jersey. The two firms now have a presence in complementary markets, thus creating opportunities to scale their collective geographic footprint.
The terms of the agreement were not disclosed.
KEY QUOTES:
“Caprock and Grey Street fit very well with each other as both firms are focused on providing sophisticated solutions to a select number of ultra-affluent families. We both have very talented teams with similar business models, expertise and investment philosophies.”
“This acquisition sets a high bar for finding future partners and demonstrates our commitment to growing organically while maintaining the integrity of the services we provide. We look forward to quickly integrating the Grey Street team into Caprock and growing together in the future.”
– Gregory Brown, Caprock Co-CEO
“Joining the Caprock team means our advisors and clients will now have access to an even greater toolset. Just as important, our firms have shared values and a similar, client-first approach to wealth management, a contrast with others who tend to limit themselves to model portfolios filled with liquid assets.”
– Jay Page, Grey Street Co-Founder and CEO
“Whether it’s this acquisition or any future transactions, the most important thing is that the quality of the service our clients experience never gets compromised. Rather, the goal is to enhance it. To that end, we will continue to be intentional about growth to ensure we always maintain alignment between our firm, our team and the clients we serve.”
– Bill Gilbert, Caprock Co-CEO
