Cresset Merges with TRUE Capital Management, Establishes Presence in Sports and Entertainment Industry

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May 09, 2023, 07:25 ET

CHICAGO, May 9, 2023 /PRNewswire/ -- Cresset Asset Management (Cresset) and TRUE Capital Management (TRUE) announced today that they have merged, creating a multi-family office with nearly $33 billion in assets under management (as of 5/02/2023) and with offices in 19 locations around the nation. The strategic combination expands Cresset's presence in the sports and entertainment industry.

Cresset and TRUE Capital have merged (PRNewsfoto/CRESSET)

TRUE is a multi-family office that specializes in guiding a diverse roster of clients across sports, entertainment, and entrepreneurism to financial security and generational wealth. TRUE manages $1.7 billion (as of 2/22/2023) of assets on behalf of more than 350 clients, including Deandre Ayton, Robert Griffin III, Marshawn Lynch, Nneka Ogwumike, Kelsey Plum, Albert Pujols, Logan Ryan, Richard Sherman, Breanna Stewart, and Diana Taurasi.

Together with Cresset, TRUE clients will enjoy access to Cresset's scale and national footprint, including its extensive family office services, goals-based financial planning, institutional-quality private investments, and lifestyle services.

"We are thrilled to be joining forces with Cresset. Since we started TRUE in 2007, our priority has been to build relationships with our clients based on transparency and trust as they navigate the rare opportunities and unique challenges that come with wealth. That commitment will only be strengthened and enhanced with Cresset," said Doug Raetz, CEO of TRUE.

"As we've worked closely with Cresset, it has become clear that the entire Cresset team shares our goals and values. It's an excellent cultural fit, and we are excited to explore new ways to create and deliver success stories for our clients," added TRUE COO Heather Goodman.

"When we first met the TRUE team several years ago, we found kindred spirits in terms of how we believe clients should be treated and the positive impact wealth can have," said Avy Stein, Cresset Co-Founder and Co-Chairman. "Our mutual dedication to providing access to a full suite of sophisticated family office services and private investment opportunities makes this an ideal partnership."

About Cresset
Cresset is an independent, award-winning multi-family office and private investment firm with nearly $33 billion in assets under management (as of 5/02/2023). Cresset serves the unique needs of entrepreneurs, CEO founders, wealth creators, executives, and partners, as well as high-net-worth and multi-generational families. Our goal is to deliver a new paradigm for wealth management, allowing clients to pursue what matters most to them.

Cresset offers access to a comprehensive suite of family office services, deeply personalized wealth management, investment advisory, planning, and other services through Cresset Asset Management LLC. Cresset Partners LLC, Cresset's private investing group, offers clients direct access to institutional-quality real estate, private equity, private credit, and other investment opportunities. Cresset Asset Management LLC and Cresset Partners LLC are SEC registered investment advisors. Please visit https://cressetcapital.com for more information.

About TRUE Capital Management
Founded in 2007, TRUE Capital Management is a wealth management firm that specializes in guiding its diverse roster of clients to financial security and generational wealth. The firm has built a reputation for serving high-profile clients across all major sports worldwide, the global entertainment industry, and entrepreneurs innovating in our ever-evolving business world.

An independent RIA, TRUE Capital manages $1.7 billion in assets (as of 2/22/2023) and offers robust alternative investing strategies spanning venture capital (TRUE Capital Ventures), managed real estate (TRUE Real Estate), hedge/options, private debt, and impact investing. Please visit www.truecapitalmgmt.com for more information.

Media Contact:
Michael Walsh
[email protected]

SOURCE CRESSET