# Sepio Capital

Sepio Capital is a Multi Family Office based in Salt Lake City, United States.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Salt Lake City, United States
- **Region:** North America
- **Address:** Salt Lake City, UT, United States
- **Founded:** 2017
- **Assets under management:** ~$6B
- **Website:** sepiocap.com
- **LinkedIn:** https://www.linkedin.com/company/sepiocap-

## Regulatory record

- **CRD number:** 285645
- **SEC file number:** 801-108889
- **Registration status:** APPROVED
- **Latest Form ADV filing:** 2026-04-27T05:00:00.000Z
- **Reports private funds:** Yes
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/285645

## About

Sepio Capital was established in 2017 by Roger Carter and his son Josh Carter following their departure from Merrill Lynch. The father-and-son team brought a multi-billion-dollar book of clients into the new multi-family office structure. The firm maintains an SEC-registered advisory alongside a Wyoming-chartered trust company to serve families, institutions, and trusts. Sepio allocates across private equity, private credit, hedge funds, real estate, and venture capital. It executes through direct co-investments, SPVs, and fund-of-funds commitments. Confirmed holdings include positions in the Fidelity Wise Origin Bitcoin Fund and iShares Ethereum Trust. The firm also operates Sepio Capital Real Estate Fund I and Fund II, both focused on mixed-use assets in Salt Lake City. Geographic reach centers on North America with additional exposure in the Caribbean. The firm employs an investment team that includes John Beatson as Partner and Co-Chief Investment Officer. Sepio maintains relationships with philanthropic vehicles such as the Sorenson Impact Foundation. It launched two real estate funds from its Salt Lake City headquarters. No operational events from the last 24 months appear in available records. Sepio Capital operates a hybrid structure that pairs traditional family-office services with a dedicated trust company charter. This setup allows the firm to manage both liquid portfolios and complex estate structures for the same client base without external custodians for trust assets.

## Sectors

- PropTech
- Energy Transition & Renewables
- EdTech
- Healthcare Services
- Luxury

## People

- Roger Carter — Co-founder and Managing Director
- Josh Carter — Co-founder and Managing Director
- John Beatson — Partner and Co-Chief Investment Officer
- Jim Sorenson — Business Partner

## Questions

### Who runs investment decisions at Sepio Capital?

Roger Carter and Josh Carter serve as co-founders and managing directors. John Beatson acts as Partner and Co-Chief Investment Officer. Investment authority rests with this core group rather than an external committee.

### How does Sepio Capital source proprietary deal flow?

The firm draws on relationships formed during the Merrill Lynch tenure of its founders. It also accesses opportunities through its real estate funds and connections to the Sorenson Impact Foundation. Direct co-investments and SPVs form a primary channel.

### Does Sepio Capital participate in fund commitments or only direct deals?

The firm uses both approaches. It makes fund commitments in private equity and venture capital while executing direct co-investments and SPVs. Real estate holdings occur through its own commingled funds.

### What investment stages does Sepio Capital typically target?

Sepio targets early stage, seed, growth, and venture capital opportunities. It balances these with later-stage private equity and real estate. Stage selection varies by mandate and client risk parameters.

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Last updated: 2026-07-08T17:40:44.386Z

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