Core Insights - GTCR, a Chicago-based private equity firm, has signed a definitive agreement to acquire Fiduciary Trust Company, a Boston-based wealth manager with $34 billion in client assets under advisement and management, with the deal expected to close in Q1 2026 [1][2] Group 1: Acquisition Details - This acquisition marks Fiduciary Trust's first institutional capital investment since its establishment as a family office in 1885 [2] - GTCR will collaborate with Fiduciary Trust's CEO Austin Shapard and his management team to enhance client service offerings and growth strategies [2][4] - Financial terms of the deal were not disclosed, with legal counsel provided by Kirkland & Ellis LLP for GTCR and Centerview Partners LLC and Debevoise & Plimpton LLP for Fiduciary Trust [5] Group 2: Market Context and Strategy - Shapard's 2024 annual letter highlighted the increasing need for financial advice firms to achieve scale and resources to compete effectively in a tight talent market, suggesting that larger firms will benefit from operational and service improvements [3] - GTCR has been actively investing in the wealth management space, with previous acquisitions including FMG Suite and AssetMark, and a 25% stake in RIA Captrust [3] - Under GTCR's ownership, Fiduciary Trust plans to enhance its investment platform offerings, expand client services, and invest in technology [4]