Caprock expands Texas footprint with $4B Venturi acquisition

Caprock is growing its Texas footprint through the acquisition of Venturi Private Wealth, an independent Austin-based firm managing approximately $4 billion in assets.

The deal, announced July 14, brings roughly 30 Venturi employees into the multi-family office RIA’s fold, including 10 advisors, and strengthens the firm's presence in both Austin and Oklahoma City, where Venturi has built a strong client base since its founding in 2015.

Existing Venturi clients will keep working with their current advisors while gaining access to Caprock's wider family office resources, a broader investment menu and support from a national advisory team.

Venturi has built its practice around entrepreneurs, executives and multigenerational families, with services that have grown beyond core investment management into family governance, wealth education, advanced planning and outsourced CFO work.

Following the close, Venturi will fully transition to the Caprock brand and platform.

Russ Norwood, Venturi's co-founder and chief executive, and Joey Sager, who runs the firm's Oklahoma City office, will both take on Managing Director roles at Caprock.

"Like Caprock, we've always believed that wealth management is about much more than managing investments," Norwood said. "As we considered the next chapter for our firm, it was important to find a partner that would strengthen what we do for our clients. Caprock brings broader investment capabilities, deeper family office resources and the scale to support clients as their needs continue to evolve, while preserving the culture, independence and client focus that have always defined Venturi."

Caprock leadership pointed to Venturi's planning-driven, fiduciary approach as a strong cultural match. Co-CEO Greg Brown said the firm's family office philosophy aligned closely with Caprock's own.

"Venturi has built an exceptional firm grounded in trust, thoughtful advice and long-term client relationship," Brown said. "They share our belief that serving wealthy families requires a broad family office approach that extends well beyond investment management. We're thrilled to welcome their team to Caprock and look forward to building on the strengths of both firms for the benefit of our clients."

Growth strategy

Caprock co-CEO Bill Gilbert framed the acquisition as part of a selective growth approach rather than expansion for its own sake.

"At Caprock, growth has never been about getting bigger for the sake of getting bigger," Gilbert said. "We look for firms that put clients first, share our values and make the overall experience for our clients stronger. Venturi has built a talented team and a strong presence in important growth markets for our firm. Our focus is on bringing the teams together thoughtfully and building on those strengths."

The acquisition adds to Caprock's footprint in Texas, a market the firm has flagged as among the largest and fastest-growing for wealth management nationally. Terms of the transaction were not disclosed.

Founded in 2005, Caprock operates as an outsourced chief investment officer and chief financial officer for wealthy families, combining investment management with family office services for clients with complex wealth needs.

The firm oversees approximately $17 billion in client assets, with more than $8 billion invested across private markets, and serves 468 families through offices in Boise, Seattle, San Jose, Newport Beach, Park City, New York, Austin, Chicago, Scottsdale, Denver and Winter Park.