Cresset (multi-family office)

Last updated
Cresset
FoundersEric Becker
Avy Stein
Headquarters
Chicago, Illinois
Key people
Eric Becker, Co-Chairman [1]
Avy Stein, Co-Chairman
Susie Cranston, President & COO
Michael Costabile, CFO
Website Official website

Cresset is a multi-family office and private investment firm. Founded in 2017, it provides wealth management services to high-net-worth clients. As of 2025, it manages approximately $65 billion in assets.

Contents

History

Cresset was founded in 2017 by entrepreneurs Eric Becker and Avy Stein. [2] They formed the office after being dissatisfied clients of other wealth management firms where there was lack of comprehensive services. [3] In 2020, it acquired PagnatoKarp, a $2.3 billion RIA. [4]

Although originally formed to manage the assets of family members, Cresset grew to 1,100 clients by 2021. The same year, it completed its first merger by absorbing the $4.7 billion in managed assets of Berman Capital Advisors. [2] The following year in 2022, it merged with Meristem Family Wealth. At the conclusion of the merger, Cresset had more than $27 billion in managed assets. [2] In 2024, Cresset purchased the Dallas, Texas-based CH Investment Partners which managed $6.2 billion in assets as of the date of acquisition. [5]

Clients and services

Cresset manages both public and private investments for high-net-worth clients. It also does estate and tax planning for its clients. [2] [6] As of 2025, Cresset manages $65 billion in assets. [6]

References

  1. ↑ "About". Cresset.
  2. 1 2 3 4 Tucker, Hank (May 25, 2022). "Chicago RIA Cresset To Form $27 Billion Multi-Family Office By Merging With Minnesota's Meristem Family Wealth". Forbes.
  3. ↑ Cuccinello, Hayley (July 27, 2022). "Wealth manager Cresset's aggressive growth has been fueled by luring top private bankers with customized deals. Its founder lays out what's next for the $27 billion firm". Business Insider.
  4. ↑ Benjamin Jeff (September 28, 2021). "Cresset balloons to $20 billion in assets with latest megadeal". Investment News.
  5. ↑ Corbin, Kenneth (October 8, 2024). "Cresset Is Buying a $6.2 Billion Dallas Wealth Management Firm". Barron's.
  6. 1 2 Almazora, Leo (February 11, 2025). "Cresset Partners rebrands to Peakline". Investment News.
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