Elevation Point Invests in Hampton Bluff Capital
Elevation Point has taken its latest minority stake in Hampton Bluff Capital Partners, a newly-launched Atlanta-based team that managed about $1.3 billion in assets before breaking away from UBS.
The firm is led by co-founders and managing partners Krunch Kloberdanz and Justin Runager, and works with entrepreneurs, high-net-worth individuals, family offices, foundations and corporations.
At UBS Private Wealth, the team operated under the name Odyssey Wealth Management, but the team often mulled what it would mean to go independent, and particularly how the firm could maintain “institutional access and resources, but kind of keep that small, simple boutique feel,” according to Kloberdanz.
“As we thought about our clients, we wanted to build something where we had an extended platform, where we had enhanced opportunities for them across multiple kinds of platforms, access to multiple lenders, and access to a world-leading investment bank like Goldman Sachs,” he said. “We wanted to have better technology, and we wanted to have access on the private investment opportunities that, candidly, sometimes are not the right fit for wirehouse firms.”
That led to the partnership with Elevation Point, a minority investor in independent and breakaway advisors launched by former Sanctuary Wealth CEO Jim Dickson. Since its founding in 2024, Elevation Point has made 11 strategic investments in independent wealth teams overseeing nearly $13.2 billion in client assets.
According to Runager, Elevation Point’s “ecosystem of like-minded teams” is a particular benefit for the Hampton Bluff clients’ interest in the “smaller, niche, interesting” deals advisors can find within the private market space, particularly as many of the firm’s clients are entrepreneurs themselves and are raising funds to create their own private market deals.
“Now we finally have a structure,” he said. “And that’s one of the areas we’re really excited about; being able to bring those deals into this ecosystem, but also seeing those deals within the ecosystem for clients to invest in.”
Elevation Point’s offerings for its partner firms include investment banking, lending, capital raising, and municipal finance, with custody through Schwab and Goldman Sachs. Last year, Elevation Point expanded an existing partnership with Goldman Sachs, gaining access to banking, lending, trading, asset management, and capital markets capabilities (as well as access to alts).
According to Runager, the Elevation Point partnership would help the firm build out its strategies for organic and inorganic growth; on the latter, he noted the “tremendous opportunity” for bringing sole proprietorship businesses without a clear succession plan into the Hampton Bluff fold. He said the firm also hoped to serve as a connection point for like-minded clients to form their own partnerships.
“We felt like through this independence model and practice, we were going to be in a better position to facilitate introductions and create structures so that other clients can do deals together,” he said.
Last May, Elevation Point sold a minority stake to Emigrant Partners. While Emigrant Partners and Elevation Point have similar business models, the investment gave Emigrant exposure to the breakaway advisor market.
The Hampton Bluff investment is Elevation Point’s third stake this year. In January, the firm made a minority investment in the $1.3 billion Harbor View Private Wealth. Like the Hampton Bluff group, the Harbor View team was based in Atlanta and had previously been at UBS.
That same month, Elevation Point made a stake in Forta Wealth Partners, an Indianapolis-based firm with over $900 million in assets. The six-person team previously operated as The Turner Group within Merrill Lynch Wealth Management.