Cresset Capital Management, a US-based advisory firm set up by private equity entrepreneurs Eric Becker and Avy Stein, has launched a new family office.
The new Cresset Family Office will be headed by Michael Cole as CEO. Cole joins from Ascent Private Capital Management, where he was the president and founder.
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Cresset also appointed Kevin Long as its new senior managing director. Long previously served as a senior director of Western & Midwestern U.S. Markets at Abbot Downing.
“During their respective careers, Michael and Kevin have built three of the largest and most successful multi-family offices in the country and now have chosen to build the next generation multi-family office on our independent, family- and employee-owned platform that is built for the very long term,” Becker stated.
The new venture will support family history exploration and documentation, family values identification, family communication and education, family governance and leadership development, family philanthropy, estate and tax planning, and risk management.
“As clients ourselves, it was important for Eric and me to create a firm that is family- and employee-owned, provides unique access to private investment opportunities and offers our clients tailored family office services at a level traditional wealth management firms do not provide,” Stein said.
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