US-based advisory firm Shepherd Kaplan Krochuk (SKK) has expanded its national footprint with the takeover of Peak Capital Management (PCM).
The deal value was not divulged.
Based in Denver, Colorado, PCM offers rules-based investment strategies to assess risk.
It serves HNW families, pension and profit sharing plans, charitable organisations, as well as third-party advisers.
The combined group has more than $6.9bn in assets. PCM will continue to run its Dynamic Risk Hedged strategies.
As part of the deal, SKK has absorbed PCM founder and CIO Brian Lockhart.
Currently, Lockhart has a board seat at SKK and is an equity member.
Lockhart said: “We have gotten to know the SKK team over the past several years through utilising their Private Equity and Venture funds and have found that their business is a terrific complement to ours.
“We both view the world of investing through a lens that is focused on attractive returns built on a foundation of risk mitigation.”
Besides, PCM chief compliance officer Geoffry Eliason has now become the COO of the business.
SKK co-founder and managing member David Kaplan also welcomed the deal, calling PCM a “natural fit”.
A similar view was reiterated by SKK co-founder and managing member David Shepherd.
Referring to the PCM team, Shepherd noted: “They have built a successful, growing client-centred firm that will flourish even more when combined with the infrastructure, resources and investment opportunities that SKK offers.”