US-based advisory firm Shepherd Kaplan Krochuk (SKK) has expanded its national footprint with the takeover of Peak Capital Management (PCM).
The deal value was not divulged.
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Based in Denver, Colorado, PCM offers rules-based investment strategies to assess risk.
It serves HNW families, pension and profit sharing plans, charitable organisations, as well as third-party advisers.
The combined group has more than $6.9bn in assets. PCM will continue to run its Dynamic Risk Hedged strategies.
As part of the deal, SKK has absorbed PCM founder and CIO Brian Lockhart.
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By GlobalDataCurrently, Lockhart has a board seat at SKK and is an equity member.
Lockhart said: “We have gotten to know the SKK team over the past several years through utilising their Private Equity and Venture funds and have found that their business is a terrific complement to ours.
“We both view the world of investing through a lens that is focused on attractive returns built on a foundation of risk mitigation.”
Besides, PCM chief compliance officer Geoffry Eliason has now become the COO of the business.
SKK co-founder and managing member David Kaplan also welcomed the deal, calling PCM a “natural fit”.
A similar view was reiterated by SKK co-founder and managing member David Shepherd.
Referring to the PCM team, Shepherd noted: “They have built a successful, growing client-centred firm that will flourish even more when combined with the infrastructure, resources and investment opportunities that SKK offers.”
