Caprock has acquired Grey Street Capital, a Chicago-based boutique advisory firm with $2.2 billion in client assets.
The deal marks Caprock’s first acquisition, reflecting the firm’s desire to drive strategic growth and enhance the bespoke services it provides to clients. The combination brings Caprock’s assets under advisement to more than $11 billion.
Grey Street will now operate under the Caprock brand. Beyond Chicago, it also has advisers located in Scottsdale, Ariz.; Winter Park, Fla.; and Morris County, N.J. The two firms have a presence in complementary markets, creating opportunities to scale their collective geographic footprint.