Caprock, a multi-family workplace RIA agency, introduced this week the acquisition of Gray Avenue Capital, a Chicago-based boutique advisory agency with $2.2 billion in consumer property.

The acquisition is Caprock’s first, based on the announcement, and the deal displays the agency’s “want to drive strategic development and improve the bespoke companies it gives to purchasers.” The mixture brings Caprock’s property below advisement to greater than $11 billion.

Caprock co-CEO Gregory Brown famous that each corporations are centered on offering subtle options to a choose variety of ultra-affluent households. Transferring ahead, Gray Avenue will function below the Caprock model.

“We each have very gifted groups with related enterprise fashions, experience and funding philosophies,” Brown mentioned. “This acquisition units a excessive bar for locating future companions and demonstrates our dedication to rising organically whereas sustaining the integrity of the companies we offer.”