Iliana Williams, 347-572-4915
Oak Street Funding® Backs Recent Cresset Acquisition, Enabling Robust Wealth Management Services To More Clients
September 22, 2020 (Indianapolis, Ind.) – Oak Street Funding® (https://www.oakstreetfunding.com), a First Financial Bank (FFB) company that provides customized commercial financing for financial service businesses, including Investment Advisors, Insurance Businesses and Certified Public Accountants, has recently funded another large deal by partnering with Cresset Asset Management (“Cresset”).
In the investment advisory space, the second quarter, with several large transactions, was a record quarter for Oak Street Funding both in terms of units funded and volume. In one of their most recent deals, Oak Street Funding provided capital to enable Cresset’s latest acquisition, placing the firm among the 25th largest investment advisory firms nationwide and the largest in the state of Illinois.
“In spite of the current market uncertainty due to COVID-19, Oak Street Funding is in a great position to work with firms looking to make large dollar acquisitions in order to continue growing as they gain greater success in the marketplace,” explained Rick Dennen, President and CEO of Oak Street Funding. “We work to build strong and long-term relationships with our clients. With an over 90% Net Promoter Score, our team has proven we provide a valuable customer experience before, during, and after the funding takes place. Our unique customer relationship approach is demonstrated with clients like Cresset where we provided the funding and services to support their continued efforts towards achieving their vision.”
Cresset was founded with a vision to reinvent the way clients experience wealth and with an unyielding belief clients deserve better. Cresset offers individuals and families access to a comprehensive suite of family office services, deeply personalized wealth management, investment advisory, planning and other services.
“It has been a pleasure working with Oak Street Funding, who understands our industry and the value of personalized relationships,” stated Chris Boehm, Managing Partner of Cresset Partners, who leads Cresset’s investments in the RIA sector. “Our latest acquisition propels us into one of the top RIA firms in the country, and enables us to provide our unique services to a broader segment of individuals and families.”
About Oak Street Funding
Indianapolis-based Oak Street Funding (www.oakstreetfunding.com), a First Financial Bank company, with a portfolio exceeding $1 billion provides customized financial solutions for financial service businesses and third-party loan servicing for financial institutions. Oak Street Funding incorporates industry knowledge, easy to use technology and passion to deliver top-quality service and capital products to financial services professionals nationwide. With in-house Sales, Underwriting and Servicing teams and direct access to the CEO and Executive Team, Oak Street Funding is well-positioned to meet lending needs regardless of where our borrowers are in their business life cycles
Private equity entrepreneurs Eric Becker and Avy Stein founded Cresset with a vision to reinvent wealth management and with a firm belief that clients deserve better. Cresset offers individuals and families access to a comprehensive suite of family office services, deeply personalized wealth management, investment advisory, planning and other services through Cresset Asset Management, an SEC registered investment adviser. Cresset Partners, Cresset’s private investing group, offers clients direct access to real estate, private equity, and other investment opportunities. Together with Diversified Real Estate Capital, led by Larry Levy, Cresset Partners created a joint venture partnership focused on core real estate development investments in Qualified Opportunity Zones (QOZs). Cresset-Diversified recently announced the launch of its second fund, Cresset-Diversified QOZ Fund II, which targets Opportunity Zone projects with the potential for substantial risk-adjusted, tax-advantaged returns.3 Learn more at https://cressetcapital.com.