Cresset, a Chicago-based RIA, has agreed to acquire Dallas multi-family office CH Investment Partners, which manages $6.2 billion in assets.
This deal, expected to close by the end of October, will boost Cresset’s assets under management to around $62 billion. While financial terms weren’t disclosed, Cresset’s president, Susie Cranston, expressed excitement about the acquisition, noting that CH Investment Partners fits perfectly with their criteria for a partner.
CH Investment Partners, primarily owned by co-presidents Michael Silverman and Kirk Rimer, serves 64 wealthy families and 155 additional clients through its alternative investment platform.
The firm has 37 employees across offices in Dallas, Charlotte, and Tulsa. Silverman highlighted that joining Cresset would enable them to offer deeper services like bill pay, tax planning, and trust management, which they currently outsource.
Cresset, co-founded in 2017 by former private equity executives Eric Becker and Avy Stein, has expanded through acquisitions and recruitment. This acquisition follows its recent purchase of The Connable Office, a Michigan-based multi-family office managing $1.6 billion.
