The Caprock Group

David Jack serves as Managing Director and Chief Investment Officer, leading the team that selects external managers and evaluates co-investments. The investment committee includes senior partners and has a formal mandate to integrate sustainability factors into every allocation decision. Jack joined the firm after an institutional career that included endowment and foundation investing roles.

The firm has a stated commitment to integrating environmental, social, and governance factors into investment selection, but it is not a pure-play impact investor. Caprock allocates to managers like Generation Investment Management for dedicated sustainability exposure while maintaining traditional private-equity and credit commitments. The mandate acts as a screen and a strategic tilt rather than an exclusionary filter, and the investment committee formally reviews sustainability factors during diligence.

Caprock charges asset-based fees on committed capital, aligning the firm's economics with portfolio performance rather than transactional activity. The firm does not publicly disclose a minimum relationship threshold, but the pooled-fund structure and institutional-grade target investments suggest the model is designed for families with at least $20 million to $30 million in deployable capital. The fee structure avoids the transaction-based billing that creates conflict in some advisory models.

Caprock operates primarily as an allocator, selecting third-party fund managers and layering in co-investments alongside those GPs. The firm does not market proprietary direct-investment funds. The CIO's team evaluates external managers, conducts operational due diligence, and manages co-investment underwriting, but the capital is deployed through external partnerships rather than an in-house direct-investment team.