Estancia Acquires Minority Interest in Spruce

October 22, 2012

On October 3, 2012, Spruce Private Investor announced that asset management investment firm Estancia Capital Management had acquired a minority interest in Spruce for an undisclosed amount.

On October 3, 2012, Spruce Private Investors, LLC announced that Estancia Capital Management, LLC had acquired a non-controlling minority interest in Spruce.  Spruce is a wealth management firm that serves as an outsourced Chief Investment Officer and advisor for family offices, foundations, and endowments.  Estancia is a private equity firm focused on the asset management industry.  Spruce will reinvest the proceeds of the investment into the firm.  Spruce is also expanding equity ownership to a number of key employees.  Spruce will continue to operate independently under its existing management team.  The terms of the deal were not disclosed. 

To read the press release, please click here.


Investment Manager M&A, Investment Manager Venture Capital, Transactions