Caprock Acquires $4 Billion Venturi in 2nd Deal, Expanding Austin and Oklahoma City
Updated
Updated · Wealth Management · Jul 14
Caprock Acquires $4 Billion Venturi in 2nd Deal, Expanding Austin and Oklahoma City
2 articles · Updated · Wealth Management · Jul 14
Summary
$16 billion RIA Caprock bought Austin-based Venturi Private Wealth, adding about $4 billion in assets, 30 employees and 10 advisors in its second acquisition to date.
Venturi will rebrand under Caprock, while keeping roughly 95% of client assets with Fidelity and tapping Caprock's family office capabilities, alternatives platform and broader infrastructure.
Russ Norwood said Venturi spent about 18 months weighing strategic options before choosing Caprock for scale, complementary services and a stronger voice in growing the combined firm.
The deal deepens Caprock's push into M&A after its $2.2 billion Grey Street Capital acquisition in 2024 and last year's hire of former LPL executive Frank Giuliano to lead acquisitions and recruiting.