Crescent Capital Consulting Acquired by North Carolina Firm
Crescent provides investment management services to institutions as well as high-net-worth and ultra-high-net-worth families. It also has several endowment and foundation clients and offers institutional investment management consulting as well as estate planning, tax compliance, advisory services, family governance and trust management. The firm is led by President Andrew Wisdom, Executive Vice President Bryan Fitzpatrick and Executive Vice President of Operations Luis Zervigon. They are joining Captrust, along with 16 other colleagues, and add $1.5 billion in assets.
“We are proud of the firm we built over the past 12 years. As we have grown, our clients’ needs have grown, so we needed access to a broader, deeper, and independent platform to meet those needs,” said Wisdom in a press release. He will join Captrust as a principal.
“Captrust provides us with a full spectrum platform, freedom from advisory conflicts, and matches our values and culture perfectly,” he said. “We are delighted to become part of Captrust as professionals and know this transition is a win for our clients.”
Captrust said it acquired a total of 11 firms in 2021, including New Market Wealth Management, recently relocated to Nashville. The company is led by Principal Daryl Deke.
“While we have long had clients in Nashville and New Orleans, adding physical locations in these top strategic markets has been a priority for Captrust,” said Rush Benton, the company’s senior director for strategic growth. “Crescent is a natural fit for Captrust with existing clients in all three of our lines of business. Daryl’s extensive industry relationships and understanding of the industries that are key to the Nashville market will fuel his rapid growth.”
Crescent was represented in the deal by law firm Jones Walker.