CHICAGO--(BUSINESS WIRE)--Cresset Asset Management announced today that it has surpassed $5 billion in assets under management (AUM) less than two years after its founding.
Founded by private equity entrepreneurs Eric Becker and Avy Stein in 2017, Cresset’s vision is to reinvent how people experience wealth, with a firm belief that clients deserve better. Cresset provides its clients with access to sophisticated investment strategies and planning, the next evolution of family office services, private direct investments, and open source credit solutions.
“We are committed to building the house that we, as clients and owners, want to live in,” Stein said. “That vision is clearly resonating with clients who are craving something better.”
In the last two years, Cresset has attracted highly experienced individuals from across the industry and established offices in Chicago, West Palm Beach, Seattle, Denver, Minneapolis and San Francisco. Cresset Partners, an affiliate of Cresset Asset Management, also launched the Cresset-Diversified QOZ Fund in late 2018, which has secured more than $250 million in capital commitments.
“Having achieved more than $5 billion in assets under management in a relatively short amount of time is a wonderful validation that Cresset is offering a better alternative to the old way of doing things,” Becker said. “Our clients and employees are also owners in the firm, and that provides unparalleled alignment and a vested interest to be the best we can possibly be.”
Private equity entrepreneurs Eric Becker and Avy Stein founded Cresset with a vision to reinvent wealth management and with a firm belief that clients deserve better. Cresset offers individuals and families access to a comprehensive suite of family office services, deeply personalized wealth management, investment advisory, planning and other services through Cresset Asset Management, an SEC registered investment advisor. Cresset Partners, Cresset’s private investing group, offers clients direct access to real estate, private equity and other investment opportunities. Alongside Diversified Real Estate Capital, which was founded and is led by Larry Levy, Cresset Partners launched the Cresset-Diversified QOZ Fund, which invests in Qualified Opportunity Zones and creates potential for risk-adjusted, tax-advantaged returns.*
*The contents hereof are not to be used as the basis for making any investment decision and are not a recommendation of, or solicitation for, the subscription, purchase or sale of any security, including the fund mentioned herein.