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September 29, 2021

TA Associates to back multi-family office Caprock

By Verdict Staff

Private equity firm TA Associates has signed a definitive agreement to make a strategic growth investment in multi-family office Caprock, which oversees $7.5bn in client assets.

Financial terms of the deal were not disclosed.

Established in 2005, Caprock advises on over provides customised wealth solutions for ultra-high-net-worth (UHNW) individuals, families and select foundations.

The firm also specialises in impact investing and has deployed over $1.5bn in impact-oriented capital across all asset classes.

It has offices in San Jose, Seattle, Newport Beach, New York, Park City and Boise.

TA principal Clara Jackson said: “Caprock has become a recognised leader in the fast-growing multi-family office market.

“This investment offers TA a compelling opportunity to partner with Caprock’s talented team to further scale the firm’s platform and solution set.”

As part of the deal, Jackson and TA managing director Roy Burns will join the Caprock board of directors.

Commenting on the deal, Burns said: “The multi-family office market is large and growing and remains highly fragmented.

“Caprock’s deep experience in this market, along with its expertise in non-public and impact investing, distinguishes the firm as a leader that we believe will continue to grow its share of the market.”

Caprock co-founder and managing director William Gilbert, Jr. remarked that TA will be a be a true value-added partner for the firm.

Caprock co-Founder and managing director Gregory Brown added: “We built Caprock from the outset to focus on alignment, access and expertise for the benefit of our clients.

“TA’s philosophy of serving as a long-term investor directly mirrors our approach. We are delighted to work with a world-class partner in executing our vision.”

In March this year, Australian ETF manager BetaShares, which oversees $16bn in assets, received a strategic investment TA Associates.

In February, the firm also invested in Consolidator Fairstone.  As part of this deal, funds advised by TA acquired a significant stake in Fairstone.

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