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Cresset Chief Executive Departs
Tom Burroughes
17 July 2020
The chief executive of to create a $9.5 billion firm. PagnatoKarp is a Reston, Virginia-based SEC registered investment advisor with $2.3 billion in assets under management. The transaction, carried out in a cash and equity deal, is part of an industry M&A trend that has not been squashed by the COVID-19 pandemic. Among recent moves, Cresset appointed Bill Rudnick to lead its family office services group.
The business was founded by private equity entrepreneurs Eric Becker and Avy Stein. The firm offers a suite of family office services and 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.