On November 27, 2024, Cresset announced its partnership with Constellation Wealth.
On November 27, 2024, Constellation Wealth Capital, LLC (“Constellation Wealth”) announced its investment in Cresset. Under the terms of the transaction, Constellation Wealth acquired a minority interest in Cresset, representing a less than 10% stake, for $150 million. Further terms of the deal were not disclosed.
Constellation Wealth, based in Chicago, is an alternative asset management platform dedicated to the wealth management sector. As of October 2024, Constellation Wealth had approximately $549.7 million in assets under management. Houlihan Lokey and William Blair served as investment bankers to Constellation Wealth.
Cresset, based in Chicago, is a multi-family office and private investment firm for entrepreneurs, CEO founders, wealth creators, executives, and partners, as well as high-net-worth and multi-generational families. As of November 2024, Cresset had approximately $60 billion in assets under management. Moelis & Company LLC and Goldman Sachs served as investment bankers to Cresset.
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