Private equity firm GTCR has purchased a 25% minority stake in investment consulting firm CAPTRUST Financial Advisors.
The investment reflects a valuation of $1.25 billion for CAPTRUST, according to a news release on its website Tuesday. CAPTRUST Financial Services was founded in 1997 by Fielding Miller and David Perkins. Mr. Miller, currently chairman and CEO of the firm, remains the largest shareholder, according to the news release.
CAPTRUST began the search for a capital partner in mid-2019 to provide additional capital to support the Raleigh, N.C.-based firm's strategic plans to expand nationally, the news release said.
CAPTRUST Financial Advisors has more than $390 billion in assets under advisement and $45 million in assets under management.
John D. Curry, chief marketing officer at CAPTRUST, could not be immediately reached for further information.
GTCR officials could not be immediately reached; its website announced that its initial investment in CAPTRUST closed Tuesday.