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Captrust Acquires $107B Institutional-Focused Firm

Captrust continues to build out its institutional business with its acquisition of Portfolio Evaluations Inc., a Warren, N.J.–based firm with more than $107 billion in AUA, its third significant deal in that market.

Raleigh, N.C.–based Captrust Financial Advisors announced this week that it had closed on its deal to acquire Portfolio Evaluations Inc. (PEI), a Warren, N.J.–based firm focused on institutional clients, adding more than $107 billion in assets and several hundred clients.

The deal represents Captrust’s third significant acquisition of an institutional-focused firm; in February 2021, it added Cammack Retirement Group, with $154 billion in assets under advisement, and in August 2021, it acquired Ellwood Associates, with $85 billion in AUA.

The PEI deal, which closed in late 2021, represents Captrust’s 54th since 2006 and its ninth in 2021. As of Sept. 30, 2021, Captrust had more than $85 billion in assets under management and more than $660 billion in assets under advisement.

PEI, which will take on 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 plans, foundations, endowments and family office groups.

“Over the last 30 years, we have built a reputation based on trust and unmatched client service. Joining forces with Captrust will allow us to build out this solid foundation with additional services like participant advice and expands our expertise in areas like alternatives and nonqualified benefits,” Sasso said in a statement.

Wise Rhino Group advised PEI on the deal.

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