TA Associates Announces Strategic Growth Investment in Caprock

·3 min read

BOSTON, September 28, 2021--(BUSINESS WIRE)--TA Associates, a leading global growth private equity firm, today announced that it has signed a definitive agreement to make a strategic growth investment in Caprock, a leading, privately-owned, multi-family office. Financial terms of the transaction were not disclosed.

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Established in 2005, Caprock provides customized wealth solutions for ultra-high-net-worth individuals, families and select foundations. The firm acts as an outsourced chief investment officer and chief financial officer, serving as a trusted partner for those who seek objective advice on the entirety of their balance sheet. Caprock advises on over $7.5 billion in client assets, with a particular focus and expertise in non-public markets. In addition, Caprock is a market leader with a longstanding and principled approach to impact investing, having deployed over $1.5 billion in impact-oriented capital across all asset classes. Caprock serves clients from offices in San Jose, Seattle, Newport Beach, New York, Park City and Boise.

"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 G. 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.

About Caprock

Established in 2005, Caprock, a founding B Corporation, is a multi-family office with locations in San Jose, Seattle, Newport Beach, New York, Park City and Boise. The firm is an SEC-registered investment advisor advising on over $7.5 billion in client assets. More information about Caprock can be found at www.caprock.com.

About TA Associates

TA is a leading global growth private equity firm. Focused on targeted sectors within five industries – technology, healthcare, financial services, consumer and business services – the firm invests in profitable, growing companies with opportunities for sustained growth, and has invested in more than 550 companies around the world. Investing as either a majority or minority investor, TA employs a long-term approach, utilizing its strategic resources to help management teams build lasting value in high quality growth companies. TA has raised $47.5 billion in capital since its founding in 1968. The firm’s more than 100 investment professionals are based in Boston, Menlo Park, London, Mumbai and Hong Kong. More information about TA can be found at www.ta.com.

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Contacts

For TA:
Marcia O’Carroll
TA Associates
617-574-6796
mocarroll@ta.com

Philip Nunes
BackBay Communications
617-391-0792
phil.nunes@backbaycommunications.com

For Caprock:
Mark Gustafson
208-994-7008
mark@caprock.com

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