Deal brings Caprock’s assets under advisement to over $11 billion
Teams will unify and operate under the Caprock brand, bringing aligned expertise and enhanced service to ultra-high-net-worth clients.
BOISE, Idaho, March 19, 2024 /PRNewswire/ — Caprock (or “the firm”), a leading multi-family office Registered Investment Advisor (RIA) serving ultra-high-net-worth clients, today announced the acquisition of Grey Street Capital, a Chicago-based boutique advisory firm with $2.2 billion in client assets.
The deal marks Caprock’s first acquisition, reflecting the firm’s desire to drive strategic growth and enhance the bespoke services it provides to clients. The combination brings Caprock’s assets under advisement to more than $11 billion.
“Caprock and Grey Street fit very well with each other as both firms are focused on providing sophisticated solutions to a select number of ultra-affluent families,” said Gregory Brown, Caprock Co-CEO. “We both have very talented teams with similar business models, expertise and investment philosophies.”
Brown continued, “This acquisition sets a high bar for finding future partners and demonstrates our commitment to growing organically while maintaining the integrity of the services we provide. We look forward to quickly integrating the Grey Street team into Caprock and growing together in the future.”
Grey Street will now operate under the Caprock brand. Beyond Chicago, it also has advisors located in Scottsdale, Arizona; Winter Park, Florida; and Morris County, New Jersey. The two firms have a presence in complementary markets, creating opportunities to scale their collective geographic footprint.
“Joining the Caprock team means our advisors and clients will now have access to an even greater toolset,” said Jay Page, Grey Street Co-Founder and CEO. “Just as important, our firms have shared values and a similar, client-first approach to wealth management, a contrast with others who tend to limit themselves to model portfolios filled with liquid assets.”
Bill Gilbert, Caprock Co-CEO, added, “Whether it’s this acquisition or any future transactions, the most important thing is that the quality of the service our clients experience never gets compromised. Rather, the goal is to enhance it. To that end, we will continue to be intentional about growth to ensure we always maintain alignment between our firm, our team and the clients we serve.”
Terms of the agreement were not disclosed.
About CaprockCaprock is a leading multi-family office Registered Investment Advisory (RIA) serving ultra-high-net-worth clients. Founded in 2005, Caprock acts as a full-service outsourced chief investment officer and chief financial officer for 300 wealthy families with a total of more than $9 billion in assets under advisement. The firm is a privately held, multi-family office with locations in Boise, Seattle, San Jose, Newport Beach, Park City, New York, and Austin.
Caprock’s clients benefit from the firm’s endowment-like investment approach. The firm has expertise and access to private markets, where it manages more than $4 billion in investments, including private equity, venture capital, real estate and private credit. Caprock also has expertise and is an industry thought leader in impact investing. The firm is an SEC-registered investment advisor and a founding B-Corporation.
About Grey Street Grey Street Capital is a full-service, boutique investment partner designing customized, comprehensive portfolios for high-net-worth clients. Founded in 2017, the firm works with 80 families and advises on over $2.2B in assets across public and private investments. Headquartered in Chicago IL, the firm also has advisors in Scottsdale AZ, Winter Park FL, and Morris County NJ.
SOURCE Caprock
