Caprock, a multi-family office RIA firm, announced this week the acquisition of Grey Street Capital, a Chicago-based boutique advisory firm with $2.2 billion in client assets.
The acquisition is Caprock's first, according to the announcement, and the deal reflects the firm's "desire to drive strategic growth and enhance the bespoke services it provides to clients." The combination brings Caprock's assets under advisement to more than $11 billion.
Caprock co-CEO Gregory Brown noted that both firms are focused on providing sophisticated solutions to a select number of ultra-affluent families. Moving forward, Grey Street will operate under the Caprock brand.
"We both have very talented teams with similar business models, expertise and investment philosophies," Brown said. "This acquisition sets a high bar for finding future partners and demonstrates our commitment to growing organically while maintaining the integrity of the services we provide."
