CREWS & ASSOCIATES

CREWS & ASSOCIATES

CREWS & ASSOCIATES was founded in 1987, making it one of the older independently owned investment firms in the Mid-South. The firm has historically been led by Hill McAlister, with William W. Deupree Jr. serving as President. It was built on a foundation of relationship-driven finance, concentrating its activity primarily within Tennessee and adjacent Southeastern markets. Deployment spans multiple asset classes, with a dual focus on direct real estate investment and private credit origination. On the real estate side, the firm has engaged in the acquisition and development of commercial properties, including retail centers, office buildings, and industrial assets. The credit practice centers on municipal bond underwriting and private placement, functioning as a local bridge between municipal issuers and institutional investors. The firm has acted as a placement agent and underwriter for numerous Tennessee municipal entities, providing an enduring structural role in local public finance. While team size and total AUM remain private, the firm has maintained a deliberately lean structure concentrated in its Memphis headquarters. Notable adjacent activities include participation in Tennessee's public infrastructure financing, a space where the firm has demonstrated particular persistence. In recent years, the firm has continued to selectively acquire neighborhood retail and infill industrial properties, though specific transaction details are rarely publicized. The firm's most significant structural differentiator lies in its dual-license architecture — operating both a real estate investment platform and a municipal securities practice from a single balance sheet. This pairing is rare outside of regional merchant banking traditions and gives the firm a distinctive local market intelligence advantage. It avoids a perpetual fundraising cycle and instead allocates from a pool of patient capital sourced from a discreet network of Southern families and institutions.