Pathstone (a partner-owned advisory firm offering comprehensive and highly customized investment advice and family office services) has agreed to acquire Crestone Capital. Based in Boulder, Colorado, Crestone delivers a suite of fully integrated investment management and wealth advisory services to an exclusive network of entrepreneurs, business owners, and their families.
Launched in 1991 by Eric Kramer, Crestone advises about 150 families representing more than $3 billion in client assets. Crestone is a 100% employee-owned firm with more than 50 employees and offices in Colorado, Texas, and California and has deep expertise in working with first-generation entrepreneurs and wealth creators, bringing to bear an institutional approach to investing with a boutique, high-touch, and personalized client service model. In the last 30 years, Crestone has been widely recognized as a local and national leader for its growth and leadership in working with ultra-high-net-worth entrepreneurs and executives.
Upon completion of the deal, the Crestone acquisition will bring Pathstone’s total assets under advisement and administration to over $100 billion. And Pathstone will now have 20 nationwide offices with over 550 team members, more than 225 of whom are the firm’s shareholders.
Republic Capital Group served as the financial advisor, and Brownstein Hyatt Farber Schreck LLP served as legal counsel to Crestone. Alston & Bird LLP served as Pathstone’s legal counsel.
KEY QUOTES:
“From the very beginning, we admired Crestone’s culture and approach to working with sophisticated families. The focus on building a firm for ultra-high net worth families is what has historically differentiated both Pathstone and Crestone, making the combination a natural fit and that much more powerful as we seek to build a true multi-generational family office experience for our clients. We could not be more excited to welcome Eric Kramer, who will join our CEO Council and Chief Investment Office and Matt Wiles, who will join Pathstone’s Regional Leadership Team, and the rest of the Crestone team as we continue to grow our presence in the highly attractive Rocky Mountain region.”
- Matt Fleissig, CEO of Pathstone
“The rationale for this agreement is simple: we are a better firm, together. Pathstone’s laser focus on ultra-high net worth clients meshes nicely with our entrepreneurial and largely self-made clients. The advantages of scale are becoming increasingly important in our industry, and Pathstone also offers a number of complementary services that are valued by our clients. We are excited about the future for our clients, shareholders and employees.”
- Eric Kramer, CEO and managing partner of Crestone
“I have enjoyed getting to know Eric, Matt, and the Crestone team over the past months because we share a common culture and client-centric values. Using that alignment as our foundation, we are eager to work together through integration and continue to enhance our collective value proposition. This combination aligns with our ethos of growing to get better, not just bigger and furthers our commitment to building scale within our existing geographic footprint.”
- Kelly Maregni, president of Pathstone
“The Rocky Mountain region is one of the most entrepreneurial regions in the country. Its ethos of rugged individualism combined with independent thinking has served as a catalyst for a new generation of business creators and leaders. We have been proud to serve these entrepreneurs for the past 30 years, empowering them to accomplish their business and personal goals. Today, we’re equally proud to take the next step that will further meet their financial needs by combining with Pathstone.”
- Matt Wiles, president of Crestone
