Private Markets Investments Firm Cresset Partners Rebrands as Peakline PartnersPrivate Markets Investments Firm Cresset Partners Rebrands as Peakline Partners
The new name reflects the investment division’s separate identity from $65 billion wealth manager Cresset.
Cresset Partners, the private markets investment business aligned with wealth manager Cresset, has been rebranded to Peakline Partners as it seeks to carve out an independent identity.
The newly named Peakline will retain the same team and focus on private investments for wealth advisors, family offices and clients of registered investment advisor Cresset Asset Management, which has more than $65 billion in assets under management.
The new name further distinguishes the investment arm from Cresset Asset Management after it was founded in 2017 to curate private investment opportunities for Cresset founders alongside Cresset clients and additional investors.
Peakline’s fund offerings have committed more than $3.7 billion in real estate, private equity, private credit and venture capital investments.
“As our business has matured and the market has expanded, the time is right for Peakline to stand on its own as an independent private investments business,” Bill Rudnick, executive managing director, said in a statement. “As we have grown, we believe that the need to provide access to high-quality private investments has grown substantially.”
Private market investing has become increasingly popular with advisors looking to offer clients private market access.
In December, Chicago-based Cresset sold a minority stake to Constellation Wealth Capital, the private equity company created by former Emigrant Partners CEO Karl Heckenberg to invest in the RIA channel. The RIA is majority-owned by employees and clients.
Constellation invested $150 million, representing less than 10% of Cresset’s equity. The funds will be used to develop technology and recruit advisor teams for Cresset Wealth Management.
