Raleigh, NC-based Captrust Financial Advisors announced this week that it has acquired Portfolio Valuations, Inc. (PEI), a Warren, NJ-based firm, closed its deal to focus on institutional clients, adding more than $107 billion in assets and several hundred. Customer.
The deal represents the third significant acquisition by Captrust of the institutional-focused firm; In February 2021, it added Cammack Retirement Group with $154 billion in assets under advice, and in August 2021, it acquired Elwood Associates with $85 billion in AUA.
The PEI deal, which closed in late 2021, represents Captrust’s 54th since 2006 and ninth in 2021. As of September 30, 2021, Captrust had more than $85 billion in assets under management and more than $660 billion in assets under advice.
PEI, which will compete with the Captrust brand as part of the deal, was founded in 1992 by partners Attila Toth, Michael Sasso and Rich Torbinski. The firm works with institutional investment programs, including retirement planning, foundations, endowments and family office groups.
“Over the past 30 years, we have built a reputation based on trust and unmatched customer service. Joining CapTrust will allow us to build on this solid foundation with additional services such as participant mentoring and alternative services,” Sasso said in a statement. and expand their expertise in areas such as non-profits.”
Wise Rhino Group advised PEI on the deal.