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Captrust reaches $1.25B valuation after selling 25% stake to GTCR

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Captrust, the Raleigh-based financial advisory firm, took on a private equity partner in a transaction that values the company at $1.25 billion. Chicago-based GTCR bought a 25% stake in Captrust, which has been seeking a capital partner since mid-2019 after completing 40 transactions since 2008, according to a press release. It cites GTCR’s expertise in investing more than $15 billion in 200-plus companies since its founding in 1980.

Captrust’s leadership structure will remain unchanged with co-founder CEO Fielding Miller as CEO. He remains the firm’s largest shareholder. GTCR’s minority interest has a minimum seven-year horizon and gives  the company two of the nine seats on Captrust’s board of directors.

Some proceeds from the investment will go to shareholders and another portion will be used to fund acquisitions, Captrust says. The company has more than 700 employees, including about 380 who are shareholders.

Founded in 1997, Captrust has $390 billion in client assets under advisement as of March 31 with 43 offices in 21 states. Raleigh-based Capfinancial Partners, the parent of Captrust, also topped this year’s Business North Carolina list of the largest investment managers based in the state.

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