One of the oldest multi-family offices in the US, Connable has served seven generations of its founding family, along with others.

Cresset Asset Management, a US firm, has bought Michigan-based The Connable Office, one of the oldest multi-family offices in the country.

The inclusion of Connable in the Cresset stable lifts the latter firm’s assets under management to more than $52 billion. 

Originating as a single-family office in the late 1800s, Connable has served seven generations of its founding family and other multi-generational client families. It is led by its principals, Loyal Eldridge III, Kenneth Larason, James Melvin, and Bradley Weller. The firm focuses on family office services, investing, and trust and foundation administration.

"Cresset and Connable together are an outstanding cultural fit. We are the powerful combination of a firm with a 100+ year legacy and one that has been built for the next 100 years," Eric Becker, co-founder and co-chairman of Cresset, said. 

Connable clients can tap into Cresset’s services offerings, such as its private investment program, family governance and education, risk management, peer-to-peer learning opportunities, concierge services, and more.

Republic Capital Group served as financial advisor and Alston & Bird LLP served as legal counsel to Connable. The financial terms were not disclosed.