Carlyle (CG) Joins GTCR As Strategic Investor In Captrust
- S&P 500 and Nasdaq notch highest closes since early 2022
- U.S. economy adds 199,000 jobs in November
- Fed should 'lowball' rate cuts expectations next week says analyst after strong jobs data
- Bernstein's best idea for 2024? Short Tesla stock
- Analysts defend Broadcom as annual guidance falls short after FQ4 earnings beat
CAPTRUST Financial Advisors (CAPTRUST) announced today a minority growth investment from funds managed by global investment firm Carlyle (NASDAQ: CG). Carlyle will provide growth capital to the firm which will be used to pursue strategic inorganic growth opportunities. Neither GTCR nor any of CAPTRUST's executive leadership teams will be selling secondary shares as part of the transaction.
CAPTRUST added its first institutional capital partner, leading private equity firm GTCR, in 2020 to support its strategic plans to further expand the business nationally, at a valuation of
CAPTRUST's valuation has increased to more than
"CAPTRUST was founded on the belief that everyone is best served by working with financial advisors that serve as fiduciaries, providing objective, conflict-free advice. Fast-forward more than 25 years, and that core belief remains the foundation of our tremendous growth," said
"CAPTRUST has established a well-defined position within the RIA industry thanks to the firm's scale across wealth management, retirement plans, and endowments and foundations," said
"CAPTRUST is one of the premier brands within the RIA industry, with a deep bench of expertise and resources that support a premium and ever-expanding service model," said
"The culture at CAPTRUST is driven by unity, or as we say, One Unified Practice. Our shareholder program is one of the ways that we show our people just how important they are to the success of our organization," continued Miller.
Ardea Partners LP served as exclusive advisor to CAPTRUST. Alston & Bird LLP served as CAPTRUST's legal counsel. J.P. Morgan served as lead advisor to Carlyle. Simpson Thacher & Bartlett LLP served as Carlyle's legal counsel. Kirkland & Ellis LLP served as legal advisor to GTCR.
Additional terms of the deal were not disclosed.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- LyondellBasell Industries (LYB) to sell its Ethylene Oxide & Derivatives unit for $700M
- Veradigm (MDRX) Announces Greg Garrison Named Executive Chairman; Dr. Shih-Yin Ho Appointed Interim CEO; Lee Westerfield Appointed Interim CFO
- Iowa American Water Purchases the City of Donahue’s Water and Wastewater Systems (AWK)
Create E-mail Alert Related CategoriesCorporate News
Related EntitiesJPMorgan, GTCR, Twitter, Definitive Agreement
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!