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June 3, 2020

GTCR takes 25% stake in Captrust Financial Advisors

Chicago-based private equity firm GTCR has picked a 25% interest in North Carolina-based investment advisory firm Captrust Financial Advisors.

The deal values Captrust at $1.25bn. Financial terms of the transaction were not divulged.

As part of the deal, GTCR will gain two of the nine seats on the Captrust board.

The private equity firm will have a minimum seven-year investment horizon.

Captrust’s leadership and staff will retain the majority stake in the company.

Its co-founder, chairman, and CEO Fielding Miller will remain the largest shareholder of the business and retain its leadership.

GTCR managing director Collin Roche said: “We see great potential in the independent RIA space and believe that CAPTRUST is uniquely positioned to continue its extraordinary growth trajectory through the current market conditions and beyond.

“They have a history of being aggressive when markets are uncertain, so this is an ideal time to partner with Fielding and his deep bench of talented professionals.”

Captrust’s search for a capital partner commenced in the middle of last year.

The firm will utilise the latest infusion to offer partial liquidity to shareholders. It will also use a part of the capital to support acquisitions.

Captrust has over $390bn in assets under advisement, 43 offices, and a workforce of more than 700.

It was in the news earlier this year for its takeover of Fountain Financial Associates, a financial planning and investment management business with $654m in assets.


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