IEQ Capital, a San Francisco-based registered funding advisor backed by Stone Level Capital with $26.5 billion in belongings underneath administration, has acquired EPIQ Capital Group, a Bay Space-based multi-family workplace with $5.3 billion in shopper belongings.
EPIQ was launched in 2018 by Chad Boeding, one of many 4 co-founders of Iconiq Capital, based on Bloomberg. Iconiq, which Boeding helped begin in 2011, parlayed its connections to Silicon Valley executives—chief amongst them Meta Platform Inc.’s Mark Zuckerberg —into fast development. Some rivals have criticized Iconiq for pushing its funds somewhat than remaining an neutral adviser.
EPIQ caters to shoppers price no less than $100 million. However not like Iconiq, it doesn’t peddle its personal enterprise or personal fairness funds.
As soon as the deal closes later this 12 months, the mixed RIA could have $32 billion in belongings underneath administration. The deal will broaden IEQ’s footprint within the San Francisco Bay Space, Los Angeles, Newport Seashore, Calif., Dallas, Denver, St. Louis, Nashville, Tenn., Boston, Atlanta, and Miami.
Boeding will develop into a managing companion of IEQ alongside the agency’s co-founders.
“EPIQ was based with the objective to reimagine a brand new commonplace of excellence within the business, shifting the paradigm on what it means to be a fiduciary and advocate for our shoppers, offering entry to an intensive community of investments and partnerships,” Boeding stated in a press release. “I’m excited that we’re becoming a member of forces with IEQ, a agency that shares an analogous imaginative and prescient of reworking wealth administration.”
IEQ was based in 2019 by Alan Zafran, Eric Harrison and Rob Skinner. They beforehand based and led Luminous Capital, a $5.5 billion RIA that bought to First Republic in 2012 for $120 million.
In 2019, the unique Luminous crew walked out of First Republic after only a handful of years, taking a reported $17 billion in shoppers with them, about 12% of First Republic’s wealth administration belongings on the time. They arrange two RIAs: David Hou and Mark Sear created Evoke Wealth in Los Angeles, whereas the others launched IEQ.
In January 2023, IEQ bought a minority stake to non-public fairness agency Stone Level Capital.
“[EPIQ is] our neighbor within the San Francisco Bay Space, and so they have a popularity within the Silicon Valley and San Francisco markets for delivering complete and personalised household workplace providers to their shoppers nationwide,” Harrison stated in a press release.
