PE Deals

GTCR invests in financial services firm R&T Deposit Solutions

As a result of the investment, GTCR owns 50 percent of R&T with the remaining 50 percent retained by existing shareholders, which include Estancia Capital Partners and R&T's founding team and employees.

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  • In conjunction with the investment, Susan Cosgrove will join R&T as executive chairperson
  • Keefe, Bruyette & Woods served as financial advisor to R&T on the transaction while Piper Sandler & Co. and J.P. Morgan Securities LLC served as financial advisors to GTCR
  • Founded in 1980, GTCR currently manages more than $35 billion in equity capital

GTCR has made an investment in New York City-based R&T Deposit Solutions, a provider of tech-enabled liquidity management, deposit funding, and securities-based lending programs. No financial terms were disclosed.

As a result of the investment, GTCR owns 50 percent of R&T with the remaining 50 percent retained by existing shareholders, which include Estancia Capital Partners and R&T’s founding team and employees.

In conjunction with the investment, Susan Cosgrove will join R&T as executive chairperson. Her appointment is effective October 1, 2023.

On the deal, Mike Hollander, a managing director at GTCR, said in a statement, “As a result of this new investment, R&T will expand on its leading range of client-focused solutions for cash management, liquidity, and securities-based lending. We believe that R&T is well-positioned to accelerate its already strong growth trajectory and we have tremendous conviction in the caliber and capabilities of R&T’s leadership team.”

Keefe, Bruyette & Woods served as financial advisor to R&T on the transaction and Dechert LLP served as the company’s and Estancia’s legal counsel. Piper Sandler & Co. and J.P. Morgan Securities LLC served as financial advisors to GTCR and Simpson Thacher & Bartlett LLP served as GTCR’s legal counsel.

R&T Deposit Solutions was founded in 1974.

Founded in 1980, GTCR currently manages more than $35 billion in equity capital. GTCR is based in Chicago with offices in New York and West Palm Beach.