Elevation Point takes minority stake in Truing Capital Advisors, a $750M ex-UBS team
The Las Vegas team will custody assets with Goldman Sachs; no price or stake percentage was disclosed, according to our deal log.
At a glance
Elevation Point has taken a minority stake in Truing Capital Advisors, a Las Vegas team with $750 million in assets that was formerly MPI Wealth Management at UBS, according to our deal log.
The team will custody assets with Goldman Sachs, a separate arrangement from the equity stake, according to the same deal log.
The record describes the deal as a minority stake, not an acquisition; no price, stake percentage or description of how the remaining ownership is divided is given.
Elevation Point has taken a minority stake in Truing Capital Advisors, a Las Vegas team with $750 million in assets that was formerly MPI Wealth Management at UBS, according to our deal log.
The team will custody assets with Goldman Sachs, a separate arrangement from the equity stake, according to the same deal log.
The record describes the deal as a minority stake, not an acquisition; no price, stake percentage or description of how the remaining ownership is divided is given.
Elevation Point is pursuing a $50 billion goal, according to the record; $750 million is 1.5% of that target. The record gives no timetable, deal count or pipeline.
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