Company Overview - Elevation Point, a minority investor in independent and breakaway advisors, has taken a minority stake in Forta Wealth Partners, an Indianapolis-based firm managing over $900 million in assets [1] - Forta Wealth Partners was previously known as The Turner Group within Merrill Lynch Wealth Management [1] Leadership and Team - The Forta team is led by principals and wealth advisors Will Turner, Jon Shurtz, and Harrison "Taylor" McDougal, with Turner having a 20-year tenure at Merrill Lynch [2] - The team also includes Brandon Marvel (associate, client services), Holly Hynes (manager of team and client services), and Madeline Armstrong (financial advisor) [2] Historical Context - Jim Dickson, former CEO of Sanctuary Wealth and a key figure in the establishment of Forta, provided Turner with his initial job offer at Merrill Lynch two decades ago [3] - The firm serves clients across 26 U.S. states, focusing on C-suite executives, business owners, wealthy multi-generational families, physicians, endowments, non-profit organizations, and professional athletes [3] Services and Offerings - Forta Wealth Partners provides retirement plan advisory services to 401(k) plans and aims to offer unique private investments to clients [6] - The firm has selected Goldman Sachs Custody Solutions for custodial services, enhancing its partnership with Goldman Sachs to provide advisors with access to banking, lending, trading, asset management, and capital markets capabilities [4] Strategic Differentiation - The ability to offer unique private investments is highlighted as a key differentiator for Forta, catering to clients who seek such opportunities [6]

Core Insights - Nomura Holdings Inc.'s CEO Kentaro Okuda sees significant potential in attracting Japanese investors to private markets for asset diversification [2][3] - The firm's alternative assets under management increased by 25% over the past year, reaching ¥2.7 trillion ($18 billion) as of June [3] - Japanese households hold over $14 trillion in financial assets, with a substantial portion still in cash, indicating a market opportunity for investment firms [4] Private Market Strategy - Nomura is actively pursuing private market opportunities to complement its traditional business of selling stocks and bonds [3] - Okuda emphasized the importance of educating clients about the characteristics and risks of unlisted products, especially in light of recent concerns in private credit markets [5] M&A Activity - Nomura's pipeline for advising on mergers and acquisitions is expanding rapidly, driven by Japanese companies seeking efficiency [6][7] - The firm is currently the top adviser on Japan-related M&A deals, outperforming competitors like Goldman Sachs and Morgan Stanley [7]

Core Insights - Captrust Financial Advisors has acquired Cobblestone Capital Advisors, adding $3.8 billion in client assets to its portfolio [1][2] - The acquisition enhances Captrust's presence in New York, marking its third office in the state and increasing its employee count to 87 [4] Company Overview - Captrust, based in Raleigh, N.C., manages over $1 trillion in assets under advisement and management [1] - Cobblestone Capital Advisors, founded in 1986, specializes in investment and wealth management, including private investments and family office services [3] Leadership and Team - Cobblestone brings 42 employees, including 15 advisors, led by CEO John DiPasquale, Chief Investment Officer Jason Garlock, and Managing Director of Business Development Chris Mooney [2][4] Financial Metrics - Captrust oversees more than $847 billion in nondiscretionary assets and over $237 billion in discretionary assets [5] - The firm has the highest retirement plan assets under administration among registered investment advisors (RIAs) [6] Recent Acquisitions - Prior to the Cobblestone acquisition, Captrust acquired Carolinas Investment Consulting, which had over $1.4 billion in assets [7]

Industry Insights - There is a significant demand for funding and equity in the data center sector, with estimates suggesting a market size potentially reaching $6.7 trillion, indicating a substantial investment opportunity [2][10][12] - The energy requirements for data centers are expected to surge, leading to increased interest in natural gas as a key energy source [3][4] - The private markets are currently perceived as untested, with concerns about the sustainability of returns in the face of potential economic downturns [15][16][18] Investment Strategies - Companies are advised to focus on relative value when evaluating investment opportunities, ensuring that each deal aligns with their portfolio strategy [4][5][7] - A cautious approach is recommended, with an emphasis on not originating deals merely for the sake of activity, but rather targeting sectors that show strong potential [7][8] - Long-term investment horizons are necessary for infrastructure projects, which typically require significant time to develop and yield returns [12][13] Market Conditions - Current market conditions are characterized by high equity valuations and tight credit spreads, raising questions about future equity returns [20][38] - The Federal Reserve's policies and potential interest rate cuts are critical factors influencing market dynamics, with expectations of continued high rates globally [22][24][43] - There is a notable interest in international markets, particularly in regions like Australia and Japan, where investors seek to diversify and find new opportunities [30][32][34]