RIA SageView Advisory Group announced Thursday that it has acquired Capital Strategies Investment Group, or CAP STRAT, an institutional retirement plan consulting and wealth management firm that handles nearly $25 billion in assets and is based in Oakbrook Terrace, Ill.

CAP STRAT's assets include $750 million in wealth management assets under management and over $24 billion in institutional assets under administration.

The firm's 23 principals, consultants and other team members will become part of SageView, and CAP STRAT's leadership — Barbara Best, Nancy Rizzuto, Alison Bettonville, Mike Rarey, Michael Warford and Neil Davies — will become SageView managing directors.

"The intersection of retirement planning and wealth management continues to become more pronounced as an increasing number of individuals accumulate significant savings in their defined contribution plans," said John Longley, SageView's CEO.

"Like SageView, CAP STRAT has focused on providing services and solutions in both areas. We are thrilled to have the CAP STRAT team join the SageView family as their expertise complements our own," Longley added.

In addition to retirement plan consulting and wealth management services, CAP STRAT will bring institutional managed asset services capabilities to SageView for institutional clients with discretionary asset management.

"CAP STRAT was seeking a partner to help us reach our next level of growth, and SageView, with its similar culture and alignment on client service and support, was a perfect fit. We are excited to leverage SageView's expertise and solutions to support our clients," Best said.

Newport Beach, California-based SageView worked with Kilpatrick Townsend & Stockton as legal counsel on the deal. CAP STRAT worked with Turkey Hill Management as its investment banker and Hogan Lovells as legal counsel.

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