On May 9, 2023, Cresset Asset Management announced that it had merged with True Capital Management.
Under the terms of the transaction, Cresset Asset Management (“Cresset”) merged with True Capital Management (“True”). The merger created a multi-family office with offices in 19 locations around the nation. True’s employees received equity in the deal, and the company will operate under the name True Cresset Sports + Entertainment. The transaction closed in early May 2023. Further terms of the deal were not disclosed.
Cresset, based in Chicago, is an independent, multi-family office and private wealth management firm serving entrepreneurs, CEO founders, wealth creators, executives, partners, and high-net-worth and multi-generational families. As of May 2023, Cresset had approximately $33 billion in assets under management.
True, based in San Francisco, is a wealth management firm specializing in sports, entertainment, entrepreneurism, financial security and generational wealth. As of February 2023, True had $1.7 billion in assets under management.
To read the press release: please click here.