Evoke Advisors – a $25.3 billion registered investment advisory firm – announced the strategic acquisition of the business of Crescent Bay Advisors (CBA), a multi-family office. This acquisition will enhance Evoke’s current service offerings and allow the firm to offer a full range of family office services to their clients, which include ultra-high net-worth families and individuals. This combined firm is headquartered in Los Angeles with additional office locations in Orange County, California, and West Palm Beach, Florida.
Larry joins Evoke as a managing partner of the firm, along with existing managing partners David Hou, Mark Sear, Eric Bright, Darell Krasnoff, Andrew Palmer, Alex Shahidi, and Damien Bisserier.
The terms of the deal are undisclosed.
KEY QUOTES:
“Our mission since the founding of Evoke has been to create a client-focused organization. The acquisition of CBA supports this mission by adding a Family Office Services team that provides a customized and fully integrated client experience. We are confident, based on our long history with the partners of CBA, that their expertise and quality of service will seamlessly integrate with Evoke’s services to support the full range of client financial needs and protection of their family legacy.”
– Evoke’s Co-Founder and Managing Partner David Hou
“We are pleased to officially formalize our partnership with Evoke, who we have worked closely with since our founding. This opportunity seamlessly blends our comprehensive Family Office Services with Evoke’s full range of investment management, financial planning, and tax services. We are excited to be able to partner with a firm that aligns with our core values of acting as a true fiduciary partner, providing unbiased advice, and identifying select investment opportunities that put our clients’ needs first.”
– CBA’s Founder and President Larry Abrahams
