Captrust Financial Advisors (Captrust) has secured a minority growth investment from funds managed by global investment firm Carlyle. Neither existing investor private equity firm GTCR nor any of Captrust’s executive leadership teams will be selling secondary shares as part of the transaction.
Carlyle will provide growth capital to the firm which will be used to pursue strategic inorganic growth opportunities.
GTCR first invested in Captrust in 2020 to support its strategic plans to further expand the business nationally, at a valuation of $1.25bn. Since then, Captrust has grown through the addition of 29 firms that broadened the company’s capabilities and geographic footprint and fuelled the firm’s organic growth.
Captrust’s valuation has increased to more than $3.7bn, with its equity value increasing by more than $2bn to over than $3bn. 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.
Ardea Partners LP served as exclusive advisor to Captrust. Alston & Bird LLP served as Captrust’s legal counsel. J.P. Morgan served as lead advisor to Carlyle. Simpson Thacher & Bartlett LLP served as Carlyle’s legal counsel. Kirkland & Ellis LLP served as legal advisor to GTCR.
Additional terms of the deal have not been disclosed.
