Chicago-based IPA 100 firm Crowe (FY25 net revenue of $1.4 billion) and global investment firm KKR announced that funds managed by KKR have closed on an equity investment in Crowe Advisory.
Crowe Advisory will provide tax, advisory and other non-attest services, while Crowe LLP will remain a licensed CPA firm providing attest services, including audits and reviews. Both firms will continue to serve clients as members of the Crowe Global network.
“Our strategic partnership with KKR empowers Crowe to make even more investments in talent, technology and innovation, resulting in a firm with greater reach and broader capabilities,” said Crowe CEO Steven Strammello.
“Crowe has built an outstanding business, with deep industry expertise, trusted client relationships and a clear strategy for continued growth,” said KKR Partner Chris Harrington. “Our investment reflects confidence in the Crowe team and the many compelling opportunities ahead.”
Crowe said the investment will provide additional capacity to invest in talent, technology and innovation as the firm pursues its existing growth strategy.
Harris Williams served as financial adviser to Crowe, while Hunton Andrews Kurth served as legal adviser and Mayer Brown advised Crowe’s board of directors. William Blair & Company served as financial adviser to KKR, with Kirkland & Ellis serving as legal adviser.
