Caprock Acquires Venturi Private Wealth, Adding $4B in Assets
Caprock, a multifamily office registered investment adviser serving ultra-high-net-worth clients, has acquired Venturi Private Wealth, an Austin-based independent wealth management firm with approximately $4 billion in assets under management, the company said in a statement.
Venturi, founded in 2015, serves entrepreneurs, executives, and multigenerational families through a planning-oriented approach that has expanded in recent years into family governance, wealth education, and CFO services, according to Caprock. The deal brings roughly 30 employees to Caprock, including 10 advisers, and adds Austin and Oklahoma City to the firm’s footprint. Venturi clients will keep their existing advisers while gaining access to Caprock’s broader family office platform, the company said.
“Venturi has built an exceptional firm grounded in trust, thoughtful advice and long-term client relationship,” said Greg Brown, co-chief executive officer of Caprock. “They share our belief that serving wealthy families requires a broad family office approach that extends well beyond investment management.”
Russ Norwood, Venturi’s co-founder and chief executive, and Joey Sager, who leads the firm’s Oklahoma City office, will become managing directors at Caprock upon closing. Terms of the transaction were not disclosed. Berkshire Global Advisors served as exclusive financial adviser to Venturi, with DLA Piper as Venturi’s legal counsel and Stoel Rives representing Caprock.
Caprock’s Largest Deal Yet
The acquisition is Caprock’s second since it began pursuing outside growth, and by asset size it’s considerably larger than its first. Caprock’s inaugural acquisition, in March 2024, brought in Chicago-based Grey Street Capital, a boutique advisory firm with $2.2 billion in client assets that pushed Caprock’s assets under advisement past $11 billion at the time. Venturi’s $4 billion is nearly double that deal’s size, and Caprock now advises on approximately $17 billion in client assets, including more than $8 billion invested across private markets, according to the company.
The deal also lands about 14 months after Caprock brought in dedicated deal-making leadership. The firm hired Frank Giuliano, a former LPL Financial vice president of corporate development, as head of corporate development in May 2025, tasking him with leading acquisitions and adviser recruitment. At LPL, Giuliano had played a role in a liquidity and succession program that resulted in nearly two dozen RIA acquisitions, and Venturi represents the most substantial deal to close since he joined Caprock. Around the same time, Caprock also named Vivek Jindal as chief investment officer, succeeding longtime investment leader Richard Rock, with Jindal charged with building out the firm’s private-markets platform – a build-out that lines up with Venturi’s own stated rationale for the deal.
“As we considered the next chapter for our firm, it was important to find a partner that would strengthen what we do for our clients,” said Norwood. “Caprock brings broader investment capabilities, deeper family office resources and the scale to support clients as their needs continue to evolve, while preserving the culture, independence and client focus that have always defined Venturi.”
Bill Gilbert, Caprock’s other co-CEO, said the firm remains selective in its growth approach. “At Caprock, growth has never been about getting bigger for the sake of getting bigger,” Gilbert said. “We look for firms that put clients first, share our values and make the overall experience for our clients stronger.”
Founded in 2005, Caprock serves 468 families nationwide and operates as a privately held firm with teams across the United States.
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