Houlihan Lokey Advises Cobblestone Capital Advisors

Houlihan Lokey is pleased to announce that Cobblestone Capital Advisors, LLC (Cobblestone), an independent registered investment advisor (RIA) with $3.1 billion in assets under management, has been acquired by CAPTRUST Financial Advisors LLC (CAPTRUST), one of the nation’s largest independent wealth management firms. The transaction closed on September 19, 2025.

Founded in 1998 and headquartered in Rochester, New York, Cobblestone provides investment management and wealth management services, as well as private investments and family office solutions. Led by CEO John DiPasquale, the firm brings 42 new colleagues to CAPTRUST and represents CAPTRUST’s first location in Upstate New York.

Headquartered in Raleigh, North Carolina, CAPTRUST provides independent, client-first financial advice and investment management services to individuals, endowments, foundations, nonprofit organizations, and retirement plan sponsors. For individuals, the firm focuses on holistic financial planning and wealth management, including concierge services for ultra-high-net-worth clients. For institutions, CAPTRUST offers outsourced chief investment officer (OCIO) services, fiduciary support, plan design and provider analysis, fee benchmarking, and financial wellness programs. CAPTRUST now oversees more than $1 trillion in client assets.

Houlihan Lokey acted as the exclusive financial advisor to Cobblestone. This transaction represents the growing demand for scaled RIAs that combine comprehensive wealth management capabilities with differentiated alternatives expertise.

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