GTCR, a Chicago-based private equity firm that invests in financial services and technology firms, has taken a 25% stake in Captrust Financial Advisors, the first time the Raleigh, N.C.-based advisory has secured capital from a PE firm.
The investment reflects a $1.25 billion valuation of Captrust, which specializes in serving institutions and retirement plans, and will be used to provide partial liquidity to shareholders and as primary capital to fund acquisitions. Fielding Miller, the firm’s co-founder, chairman and CEO, will continue to lead Captrust and remain as the largest shareholder.
In a release, Captrust said that the GTCR investment has a minimum seven-year time horizon, and that the firm will hold two of the nine seats on the Captrust board.
Captrust advises on more than $390 billion in assets, including $45 billion in managed assets, and has more than 700 employees and 43 offices in 21 states.
Paul Atkins has asked staff to solicit public comment on novel ETFs, pausing the clock on as many as 24 filings linked to the booming event contracts market.
From 401(k)s to retail funds, Deloitte sees private equity and credit crossing into mainstream investing on two fronts at once.
Big-name defections from Morgan Stanley, UBS, and Merrill Lynch headline a busy two weeks of recruiting for the wirehouse.
Markets have always been unpredictable. What has changed is the amount of information investors are trying to process and the growing role advisors play in helping clients avoid emotional decisions
Six apartment deals, one "big account," and $2.7M in undocumented insider loans. Now the lawsuit lands
Wellington explores how multi strategy hedge funds may enhance diversification
As technical expertise becomes increasingly commoditized, advisors who can integrate strategy, relationships, and specialized expertise into a cohesive client experience will define the next era of wealth management
