GTCR Takes Bold Step with Fiduciary Trust Company Acquisition for Wealth Management Growth

GTCR Partners with Fiduciary Trust Company for Strategic Growth

In a significant move within the financial services sector, GTCR, a prominent private equity firm, has announced its agreement to acquire Fiduciary Trust Company. This transaction is set to enhance Fiduciary's offerings and capitalize on a legacy that spans over 140 years.

A Rich History and Renowned Reputation

Founded in 1885, Fiduciary Trust Company has evolved from a family office into a leading private wealth manager and trust company that serves ultra-high net worth individuals, families, and institutions. Based in Boston, the company manages approximately $34 billion in total assets as of September 2025. Its wealth management services, which include personalized planning, investment management, and trust services, are especially tailored for the affluent clientele of New England. Fiduciary prides itself on its high levels of client service, boasting a remarkable 98% average annual client retention rate.

Strengthening Investment Capabilities

The partnership will allow GTCR to provide Fiduciary with its first institutional capital, enabling the firm to enhance its client value and service offerings significantly. CEO Austin Shapard and his skilled management team will lead this transition. Under GTCR’s stewardship, Fiduciary plans to undertake strategic initiatives aimed at improving its investment platform, broadening service offerings, and integrating advanced technologies. Moreover, the firm anticipates expanding its workforce to meet growing demands in the wealth management sector.

Meeting Market Demands

Mike Lomio, Director at GTCR, highlights the evolving landscape of wealth management as a significant driver for this acquisition. With an increasing number of affluent clients seeking comprehensive trust, tax, and estate services, Fiduciary is strategically positioned to cater to these needs. The partnership aims to build on Fiduciary’s reputation while also adapting to market trends and demands.

What Lies Ahead

The completion of this acquisition is expected in the first quarter of 2026. This endeavor represents a pivotal growth strategy as GTCR plans to leverage its extensive experience in wealth and asset management. The firm has previously successfully invested in various companies, including notable names like Allspring and CAPTRUST.

Austin Shapard expressed enthusiasm about the partnership, stating, "GTCR's profound expertise in investing across the wealth management ecosystem makes them an excellent partner. This investment will empower us to further enhance our client offerings, while also fostering growth and opportunities for our talented employees."

Conclusion

This partnership marks a new chapter for both GTCR and Fiduciary Trust Company. With a commitment to excellence and an overarching goal to prioritize client needs, they are poised to redefine the future of wealth management. As the financial markets evolve, the collaboration indicates a strategic shift towards enhanced service caliber, technological adaptation, and robust growth in the wealth management arena.

About GTCR

Founded in 1980, GTCR has a long history of partnering with management leaders to form market-leading companies through organic growth and strategic acquisitions. The firm specializes in transformative investments across various sectors, including financial services.

About Fiduciary Trust Company

Fiduciary Trust Company offers a wide range of services tailored to high-net-worth families, individuals, and non-profits. With a strong focus on personalized client service and a commitment to best practices, the firm continues to maintain its esteemed position in wealth management.

For further inquiries, please reach out to GTCR or Fiduciary Trust Company directly for media-related questions or detailed information on this acquisition.