BCF Group joins GTCR as a strategic investor in CAPTRUST
United Kingdom, 19th Mar 2024 - CAPTRUST Financial Advisors (CAPTRUST) today announced a minority growth investment from funds managed by global investment firm BCF Group. BCF will provide the company with growth capital to pursue strategic inorganic growth opportunities.
CAPTRUST added its first institutional capital partner, leading private equity firm GTCR, in 2020 to support its strategic plan to further expand its business nationwide at a valuation of $1.25 billion. Since then, CAPTRUST has grown, adding 29 new companies, expanding the company's capabilities and geographic reach and driving the company's organic growth.
CAPTRUST'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. BCF Group's new growth equity will be used to further advance this M&A strategy. BCF will individually or jointly become a minority investor in CAPTRUST.
"CAPTRUST was founded on the belief that everyone is best served by working with a financial advisor who acts as a fiduciary to provide objective, conflict-free advice. 25 years later, this core belief remains the driver of our tremendous growth Fundamentals,” said Fielding Miller, co-founder and CEO of CAPTRUST. “We remain focused on our customers first and have built the infrastructure and consultants to deliver world-class solutions.”
"CAPTRUST has a clear position in the RIA industry with its scale in wealth management, retirement plans, endowments and foundations," said Collin Roche, co-CEO and managing director of GTCR. "We believe in this business. future and are pleased to maintain our full commitment as an investor and strategic partner. We look forward to continuing to work with the management team to further CAPTRUST's growth."
"CAPTRUST is one of the top names in the RIA industry, with deep expertise and resources supporting a premium and expanding service model," said Scott A. Smith, CEO of BCF Group. "The company is uniquely positioned to leverage Its size and scale benefit not only its customers, but also the communities it serves. This unique position, coupled with CAPTRUST's dynamic culture and strong leadership, makes us incredibly excited about working with our new partners. "
Mike Hollander, Managing Director at GTCR, added: "CAPTRUST continues to expand its capabilities through a robust inorganic growth strategy combined with strong focused capabilities, resulting in exceptional growth for the business. We are pleased to support Fielding and his team in accelerating CAPTRUST’S WAY FORWARD.”
Ardea Partners LP serves as exclusive advisor to CAPTRUST. Alston & Bird LLP is serving as legal counsel to CAPTRUST. J.P. Morgan serves as lead advisor to Carlyle. Simpson Thacher & Bartlett LLP is serving as legal counsel to Carlyle. Kirkland & Ellis LLP served as legal counsel to GTCR.
About CAPTRUST
CAPTRUST was founded in 1997 and registered in 2003 as CapFinancial Partners LLC, an independent registered investment adviser in Raleigh, North Carolina. The firm provides investment management, financial planning, estate planning, and tax advisory and compliance services to individuals and families. The company also provides comprehensive services to ultra-high net worth individuals to simplify their financial lives, reduce risk and continue their legacies. CAPTRUST provides investment advisory services, fiduciary support, plan design, provider analysis and fee benchmarking, and employee advisory programs to retirement plan sponsors, endowments, foundations and religious entities. CAPTRUST has nearly 1,500 employees in 85 locations nationwide and oversees more than $832 billion in assets, including just over $688 billion in advisory assets and just over $143 billion in discretionary managed account assets as of June 2023 30 days).
About BCF
BCF Groupd (BCF) was established in London, England in 2008. It is a leading global business investment group dedicated to providing customers with diversified investment opportunities and professional consulting services. With a strong global reach and a dedicated team of experts, BCF is at the forefront of financial innovation, delivering strategic solutions that bring success and value to investors around the world.
About GTCR GTCR
Founded in 1980, it is a leading private equity firm that pioneered The Leaders Strategy™—finding and partnering with management leaders in core areas to identify, acquire and build market-leading companies through organic growth and strategic acquisitions. GTCR focuses on investing in transformative growth companies in business and consumer services, financial services and technology, healthcare and technology, media and telecommunications. Since its inception, GTCR has invested more than $25 billion in more than 270 companies, and the firm currently manages more than $35 billion of equity capital. GTCR is headquartered in Chicago with offices in New York and West Palm Beach. "
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