Marquette Associates acquired Archstone Portfolio Solutions, a privately held investment consulting firm serving middle-market endowments and foundations, high-net-worth families and health-care organizations on the East Coast.
Terms weren't disclosed.
Archstone's managing directors and co-founders, Alex G. Fisher and Glenn E. Ross, have become equity partners in Marquette as part of the agreement. They are now managing partners at Marquette but will continue to work from Archstone's Baltimore offices.
Archstone will now work under the Marquette brand, said Brian Wrubel, president and CEO of Marquette.
The acquisition “expands our footprint” among endowments and foundations, he said.
Archstone had more than 25 clients with more than $2 billion in assets under advisement; prior to the acquisition, Marquette had more than 190 clients with over $83 billion in assets under advisement for institutional investors, including endowments and foundations.
The acquisition closed on March 31.
