TA Associates, a global growth private equity firm, has signed a definitive agreement to make a strategic growth investment in Caprock, a privately-owned, multi-family office. Established in 2005, Caprock provides customized wealth services for high-net-worth individuals, families and select foundations.
“Caprock has become a recognized leader in the fast-growing multi-family office market,” said 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,” said William 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,” said 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,” said 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.