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CARLYLE JOINS GTCR AS STRATEGIC INVESTOR IN CAPTRUST
RALEIGH, N.C., Sept. 19, 2023 /PRNewswire/ -- CAPTRUST Financial Advisors (CAPTRUST) announced today a minority growth investment from funds managed by global
About this update from The Carlyle Group Inc.
[{"type":"text","content":"RALEIGH, N.C., Sept. 19, 2023 /PRNewswire/ -- 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.\n\n \n \n \n \n \n \n\n \nCAPTRUST 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 $1.25 billion. Since that time, CAPTRUST has grown through the addition of 29 firms that broadened the company's capabilities and geographic footprint and fueled the firm's organic growth.\nCAPTRUST's valuation has increased to more than $3.7 billion, with its equity value increasing by more than $2 billion to more than $3 billion. Carlyle's new growth equity will be used to further drive this M&A strategy. Carlyle and GTCR will be minority investors in CAPTRUST, both individually and collectively.\n\"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 Fielding Miller, Co-founder and CEO, CAPTRUST. \"We remain focused on our clients first and have built out the infrastructure and advisor force to deliver world class solutions.\"\n\"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 Collin Roche, GTCR Co-CEO and Managing Director. \"We believe in the future of this business and are pleased to maintain our full commitment as an investor and a strategic partner. We look forward to continuing to work with the management team to further build on CAPTRUST's growth.\"\n\"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 Jim Burr, Head of Global Financial Services at Carlyle. \"The firm has the unique position of leveragin...