True North Advisors Expands West Coast Presence with Acquisition of Blue Investment Partners

Strategic Transaction Adds $353M in AUM, Enhancing Investment Opportunities and Accelerating Growth in Northern California

DALLAS--(BUSINESS WIRE)--True North Advisors, LLC (“True North”), a Texas-based registered investment adviser (“RIA”), announced today the acquisition of Blue Investment Partners LLC (“Blue”), an investment management firm based in Danville, California, with approximately $353 million in assets under management (“AUM”) as of June 30, 2025. With the close of the transaction, True North now manages over $5.1 billion in AUM as of June 30, 2025.

Founded in 2018 by Brett Hoover and Matt Dublin, Blue advises ultra-high-net-worth families and institutional investors. A trusted advisor to a discerning client base, Blue delivers investment expertise steeped in institutional discipline and values long-term client relationships.

“The addition of Blue to True North strengthens the firm’s investment team and advances its reach in strategically important markets,” said Mark Gehlbach, President and Co-founder of True North. “Blue’s approach to managing complex portfolios for financially sophisticated clients is highly complementary to True North’s, with core investment models that enhance True North’s broader platform.”

The acquisition marks True North’s expansion in California and entry into the San Francisco Bay Area, as well as an increased nexus in the New York Tri-State Area, reinforcing the firm’s commitment to expanding its geographic presence in regions with concentrated private capital and entrepreneurial wealth.

“Brett and Matt have built a respected business by maintaining a disciplined investment focus, high-touch advisory service, and strong connectivity to their clients,” said Scott Wood, CEO and Co-founder of True North. “Blue’s insights, network, and client relationships add substantial value to True North’s tactical growth plan, and the firm looks forward to welcoming Brett and Matt to the team.”

“As we evaluated potential partners, it was clear that True North offered a unique blend of shared values, institutional-level resources, and strategic vision,” said Brett Hoover, Co-founder and Managing Partner of Blue. Matt Dublin, Blue’s Co-founder and Managing Partner, added, “The True North partnership allows us to preserve the integrity of our client relationships while scaling our capabilities and extending our impact.”

This transaction represents True North’s second acquisition since forming a growth partnership with Wealth Partners Capital Group (“WPCG”) and the Aspire Holdings platform of HGGC in January 2024.

“Blue shares True North’s entrepreneurial spirit and growth orientation,” said Mac Selverian, Partner at WPCG. “Blue’s client base and strong presence in key markets further position True North as a recognized, independent RIA with national reach and institutional strength.”

The acquisition closed on June 30, 2025. Financial and legal terms of the deal were not disclosed.

Blue was represented by Jessica Polito of Turkey Hill Management, LLC for the transaction. Michael Gardiner of CounselGS served as legal counsel to Blue.

About True North Advisors

True North Advisors is a privately held Multi-Family Office serving business owners, entrepreneurs, and families with comprehensive wealth planning, investment management, and transaction advisory. The firm also oversees Western Alternative Strategies, a growing institutional alternative investment platform. As of June 30, 2025, True North manages over $5.1 billion in assets. To learn more, visit www.truenorthadvisors.com.

About Wealth Partners Capital Group

Wealth Partners Capital Group (“WPCG”) is a financial services holding company that invests in and partners with select leading wealth management firms. WPCG assists its partner firms by identifying and integrating like-minded wealth advisers who seek access to expanded business capabilities, strategic growth, and/or customized transition solutions. For more information, please visit www.wealthpcg.com.

About HGGC

HGGC is a values-driven, partnership-focused private investment firm. The firm’s ecosystem of investors, operators, and professionals are united by the shared mission to develop leading enterprises and build long term value together. HGGC invests in technology, business services, financial services and consumer enterprises generally valued between $200M - $1.5B+. The firm is based in Palo Alto, CA and manages over $8 billion in cumulative capital commitments. HGGC makes investments in RIAs via its Aspire Holdings platform, targeting a total investment of $300 million in the space. For more information, including a complete list of current and former investments, please visit www.hggc.com.