HomeWealth ManagementPE Company Carlyle Takes Minority Funding in Captrust

PE Company Carlyle Takes Minority Funding in Captrust


Raleigh, N.C.–based totally Captrust Monetary Advisors introduced on Tuesday a minority funding through Carlyle.

Phrases of the deal weren’t disclosed.

Based in 1997, Captrust started an competitive acquisition technique in 2006 and has since finished just about 70 offers. 3 years in the past, the company introduced it offered a 25% stake to non-public fairness company GTCR—in line with a valuation of $1.25 billion—after finishing 40 transactions and accumulating round $390 billion in property. Since that sale in 2020, Captrust has added 29 corporations and its valuation has higher to over $3.7 billion.

In a remark, Jim Burr, head of worldwide monetary products and services at Carlyle, stated Captrust “has the original place of leveraging its dimension and scale to profit no longer handiest purchasers but additionally to profit the communities it serves.”

Neither GTCR nor any of Captrust’s government management groups shall be promoting secondary stocks as a part of this newest transaction, consistent with the corporate. Fielding Miller, Captrust’s CEO, will proceed to guide the company and can stay the biggest person shareholder.

An international funding company with about $385 billion of property beneath control throughout 5 continents, Carlyle’s non-public fairness department lately owns items of 2 world fintech corporations however is re-entering the U.S. wealth control house with the deal.

“I believe it’s any other vote of self belief within the RIA type,” stated DeVoe and Corporate Founder and CEO David DeVoe, stating that Carlyle invested in Boston Personal Monetary Holdings again in 2008. “You might have one of the vital global’s main non-public fairness corporations re-entering the distance and doing so with giant investments. I believe it’s nice for Captrust.

“I believe we will almost certainly proceed to peer extra of this with rates of interest,” he added. “In lots of circumstances, corporations are in quest of further capital in order that they do not bump up towards debt covenants or some debt ratios. So, we will almost certainly see extra of this with different corporations.”

Captrust gives funding recommendation, monetary making plans, property making plans, tax recommendation and compliance products and services to folks and households, in addition to further products and services to retirement plan sponsors, endowments, foundations and spiritual entities. The company has just about 1,500 workers throughout 85 places national. As of June 30, the company oversees over $832 billion in property, together with simply over $688 billion in nondiscretionary property beneath advisement, and simply over $143 billion in discretionary controlled account property.

Ardea Companions served as unique consultant to Captrust. Alston & Hen served as Captrust’s prison suggest. J.P. Morgan served as lead consultant to Carlyle. Simpson Thacher & Bartlett served as Carlyle’s prison suggest. Kirkland & Ellis LLP served as prison consultant to GTCR.

Reporter Ali Hibbs contributed to this record. 

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