GTCR, a private equity firm, announced Wednesday an agreement to acquire the Boston-based Fiduciary Co. Inc. and its operating subsidiaries, together known as Fiduciary Trust Co.
Fiduciary Trust Co. is a private wealth manager and trust company serving ultra-high-net-worth individuals, families and institutions. Founded in 1885, it is entering its 14th decade in operation with its first infusion of outside institutional capital.
Under GTCR’s ownership, Fiduciary Trust Co. will seek to build upon its history of strong client service, according to the announcement. Likewise, the firm will pursue strategic initiatives that include enhancing its investment platform offerings, expanding its breadth of services, deepening its technology platform and growing its employee base.
GTCR will support the company in these efforts with “significant capital and expertise,” according to the announcement.
Michael Hollander, managing director at GTCR, cited Fiduciary Trust’s focus on providing “best-in-class service” as a key driver of the acquisition, noting that GTCR looks forward to working closely with Austin Shapard, the firm's CEO, and his management team.
“The Fiduciary team has built an exceptional business that is committed to serving its clients with differentiated wealth planning capabilities and comprehensive investment advice,” Hollander said in a statement. “We share Austin’s focus on providing best-in-class service and look forward to working with him and the team to build upon Fiduciary’s strong foundations.”
Shapard said his organization will benefit from GTCR’s experience investing in businesses across the wealth and asset management ecosystem, making them an “ideal capital partner.”
“The investment will enable us to further enhance our client value proposition, create new opportunities for our talented employees, and accelerate growth in the next chapter of Fiduciary’s long history,” Shapard said.
The transaction is expected to close in the first quarter of 2026.
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