# Constellation Wealth Capital

Constellation Wealth Capital is a Private Equity based in Chicago, United States.

## Overview

- **Organization type:** Private Equity
- **Headquarters:** Chicago, United States
- **Region:** North America
- **Address:** Chicago, IL, United States
- **Founded:** 2008
- **Assets under management:** Undisclosed
- **Website:** constellationwealthcapital.com
- **LinkedIn:** https://www.linkedin.com/company/constellationwealthccapital

## Regulatory record

- **CRD number:** 326917
- **SEC file number:** 801-128736
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-03-31T05:00:00.000Z
- **Reports private funds:** Yes
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/326917

## About

At the Nexus of Opportunity and Experience. | Constellation Wealth Capital specializes in making tailored investments in well-positioned wealth management firms who want to add to their success and independence.

## Sectors

- Wealth Management
- FinTech

## People

- Karl Heckenberg — President and Managing Partner
- Pat McCurdy — Head of Investments
- Lisa Crafford — Head of Advisory
- Greg Hall — Head of Investor Solutions

## Questions

### Who runs investment decisions at Constellation Wealth Capital?

Karl Heckenberg chairs the investment committee as President and Managing Partner. Pat McCurdy serves as Head of Investments, concentrating on sourcing, evaluating, and executing deals. Lisa Crafford, Head of Advisory, and Greg Hall, Head of Investor Solutions, also sit on the committee. The group draws on deep experience from Emigrant Partners, BNY Mellon | Pershing, and Casey Quirk – Deloitte.

### How does Constellation Wealth Capital source proprietary deal flow?

CWC does not disclose a formal proprietary sourcing channel, but the leadership team's prior roles at Emigrant Partners and BNY Mellon | Pershing provide extensive networks across the RIA and wealth management industry. The advisory practice itself acts as a prospecting funnel by building relationships with firms before investment conversations begin.

### Does Constellation Wealth Capital take majority or minority positions?

The firm makes tailored minority investments, allowing founding partners to retain operational control and economic upside. The firm's website does not specify a target percentage range. This structure is paired with a long-duration hold period designed to let compounding and institutionalization play out over time.

### What sectors does Constellation Wealth Capital focus on?

The firm invests exclusively in wealth management platforms — registered investment advisors and advisory firms. The in-house consulting team also works to diversify portfolio firms' investment menus, including increasing access to private capital alternatives, but CWC itself does not invest outside the wealth management vertical.

## Related profiles

- [Concentric Investment Partners](https://altss.com/profile/concentric-investment-partners)
- [Continental Investment Partners](https://altss.com/profile/continental-investment-partners)

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Last updated: 2026-06-03T20:00:00.000Z

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