Evoke Advisors Acquires $192M Crescent Bay to Expand Family Office Services

Evoke Advisors, the Los Angeles-based national RIA, said it has acquired $192M multi-family office Crescent Bay Advisors in a move aimed at providing Evoke clients a full range of family office services.

The family office services business will also be headquartered in Los Angeles, with additional offices in Orange County, CA, and West Palm Beach, FL. Crescent Bay founder Larry Abrahams will join Evoke as a managing partner, growing the firm’s managing partner team to eight.

According to its most recent Form ADV filing, Crescent Bay manages approximately $192M in assets for 19 clients, adding to Evoke’s approximately $25.3B in AUM. The companies did not disclose terms of the transaction.

Sources:

https://www.prnewswire.com/news-releases/evoke-advisors-acquires-crescent-bay-advisors-to-create-comprehensive-ria-and-in-house-family-office-firm-302290719.html

https://adviserinfo.sec.gov/firm/summary/149719