Cresset Asset Management has moved to expand its family office services through its acquisition of The Connable Office, a multi-family office based in Kalamazoo, Michigan.
The acquisition brings Chicago-based Cresset to managing more than $52 billion in assets for its high-net-worth and ultra-high-net-worth clients. Connable was established in the late 1800s, making it one of the oldest multi-family offices in the U.S.
Cresset’s busy 2024 has also included its May merger with the multi-family office True Capital Management, adding a sports and entertainment division to its services. Cresset also hired several wealth managers from J.P. Morgan this year to bolster its San Francisco team.