This content is from: Corner Office

GSAM Agrees to Buy Rocaton

The investment consulting firm has been employee-held since its founding in 2002.

Goldman Sachs Group's asset management business has agreed to acquire Rocaton Investment Advisors to expand its services to institutional investors.

Rocaton, an employee-owned investment consulting firm based in Norwalk, Connecticut, had more than $600 billion in assets under advisement at the end of September, according to a statement Thursday from Goldman Sachs Asset Management. GSAM expects the deal to be completed during the first half of 2019, with the entire Rocaton team remaining in Norwalk.

In a joint statement, Timothy O’Neill and Eric Lane, co-heads of Goldman’s consumer and investment management division, said the acquisition will allow Goldman to offer “more holistic and customized services” to its clients. The division, which provides asset management and wealth management services to institutional and individual investors, had more than $1.5 trillion in assets under supervision at the end of September.

Rocaton was founded in 2002 upon Capital Resource Holdings’ acquisition of consulting firm RogersCasey. Rather than move to Capital Resource Holdings, a group of 16 RogersCasey consultants, including Rocaton’s chief executive officer Robin Pellish, left to form their own firm.

[II Deep Dive: The Rocaton Way]

Today, Rocaton offers advisory and discretionary investment services to institutional clients including endowments, foundations, health-care and insurance companies, retirement plans, and financial intermediaries.

“Joining Goldman Sachs will allow our clients to benefit from the broad offerings, global resources, and respected investment acumen of one of the world’s leading investment advisers,” Pellish said in the statement.

Related Content