Cresset Partners, one of the subsidiaries of the mammoth Cresset family office platform, is embracing its evolution as an independent private investments business with a new brand identity.
While it's adopting a new moniker, Peakline Partners, the firm said it will continue to serve its clientele of families, family offices, and wealth advisors, including clients of its sister company, Cresset Asset Management.
Cresset Asset Management remains a separate entity, offering wealth management, investment advisory, and family office services, with more than $65 billion in assets under management.
“As our business has matured and the market has expanded, the time is right for Peakline to stand on its own as an independent private investments business,” executive managing director Bill Rudnick said in a statement Tuesday. “We will continue to rely on our extensive industry knowledge, large professional networks, and relationships with Cresset and the broader private wealth and family office market to access compelling private market opportunities.”
As Cresset Partners, the firm was originally established to serve the private investment needs of Cresset’s founders and clients. Since its inception in 2017, Peakline’s fund offerings have committed more than $3.7 billion across real estate, private equity, private credit, venture capital, and other alternative assets.
“The firm was created in conjunction with Cresset Asset Management to address the complex needs of successful business owners, entrepreneurs, and multi-generational families of wealth,” Rudnick said. “As we have grown, we believe that the need to provide access to high-quality private investments has grown substantially.”
There's a growing body of data from asset managers supporting that narrative. One survey by Hamilton Lane found 30 percent of financial advisors plan to allocate 20 percent or more of client portfolios to private markets in 2025, including three-fifths who expect to put more than 10 percent of portfolios in private assets.
Another piece of research by Blackstone found that out of more than 150 advisors, four-fifths anticipate they'll boost client allocations to private markets. One particularly bright spot was infrastructure, a point of focus for Blackstone as it saw its flagship infrastructure fund blow past a billion-dollar milestone less than a year after its announced launch.
Chris Boehm, executive managing director of Peakline, noted that the firm remains committed to providing direct and curated private market opportunities. “We founded Peakline with a commitment to provide our investors with direct, curated private investment opportunities where we bring unique insights and experience to create value,” Boehm said.
Chicago-based Mesirow Fiduciary Solutions adds flexPATH's plan-level outsourced fiduciary book, boosting its retirement market reach to $164 billion.
Also, Raymond James's employee advisor channel adds breakaways from Wells Fargo and Stifel, while UBS welcomes an ex-Morgan Stanley duo in Indiana.
It promised guaranteed principal and 10% monthly returns. The SEC says it invested nothing.
Ten years after entering the fee-based annuity market, MassMutual Ascend says nearly half its lifetime sales came in the past two years alone – but barriers remain among fee-only advisors.
Amplify, WealthReach, Zeplyn and Zocks have unveiled partnerships aimed at automating portfolio management, content creation, account opening, and client communication.
Northern Trust’s Ken Lassner shows advisors how to convert volatility into after-tax portfolio gains
Dan Biagini of American Equity says the steady decline of pensions, longer lifespans and a reset in interest rates are rewriting how advisors build retirement income
