TA Associates, a global growth private equity firm, is to make a strategic growth investment in Caprock, a privately-owned, multi-family office. Financial terms of the transaction have not been disclosed.
Established in 2005, Caprock provides customised wealth solutions for ultra-high-net-worth individuals, families and select foundations. The firm acts as an outsourced chief investment officer and chief financial officer, serving as a trusted partner for those who seek objective advice on the entirety of their balance sheet. Caprock advises on over USD7.5 billion in client assets, with a particular focus and expertise in non-public markets. In addition, Caprock is a market leader with a longstanding and principled approach to impact investing, having deployed over USD1.5 billion in impact-oriented capital across all asset classes. Caprock serves clients from offices in San Jose, Seattle, Newport Beach, New York, Park City and Boise.
“Caprock has become a recognised leader in the fast-growing multi-family office market,” says Clara Jackson, a Principal at TA who will join the Caprock Board of Directors. “This investment offers TA a compelling opportunity to partner with Caprock’s talented team to further scale the firm’s platform and solution set.”
“We have known the TA team for a number of years and are excited to welcome the firm as an investor in Caprock,” says William G Gilbert, Jr, Co-Founder and Managing Director of Caprock. “Given TA’s many years of experience investing in wealth management businesses, helping them grow organically and through acquisitions, we are confident that the firm will be a true value-added partner. We look forward to the benefits this relationship will bring to Caprock and our clients.”
“We built Caprock from the outset to focus on alignment, access and expertise for the benefit of our clients,” says Gregory Brown, Co-Founder and Managing Director of Caprock. “TA’s philosophy of serving as a long-term investor directly mirrors our approach. We are delighted to work with a world-class partner in executing our vision.”
“The multi-family office market is large and growing and remains highly fragmented,” says Roy Burns, a Managing Director at TA who will also join the Caprock Board of Directors. “Caprock’s deep experience in this market, along with its expertise in non-public and impact investing, distinguishes the firm as a leader that we believe will continue to grow its share of the market.”
Stoel Rives LLP provided legal counsel to Caprock. Goodwin Procter LLP provided legal counsel to TA.
