Week in Review, Jan. 17-21: Crescent Capital, Angevin & Co., Urban Properties, Home Bank and More

NEW ORLEANS — Here are the week’s top business stories:

North Carolina-based retirement and investment advisory firm Captrust Financial Advisors announced its recent acquisition of Crescent Capital Consulting, headquartered in New Orleans.  Crescent provides investment management services to institutions as well as high-net-worth and ultra-high-net-worth families. It also has several endowment and foundation clients and offers institutional investment management consulting as well as estate planning, tax compliance, advisory services, family governance and trust management. The firm is led by President Andrew Wisdom, Executive Vice President Bryan Fitzpatrick and Executive Vice President of Operations Luis Zervigon. They are joining Captrust, along with 16 other colleagues, and add $1.5 billion in assets. “We are proud of the firm we built over the past 12 years. As we have grown, our clients’ needs have grown, so we needed access to a broader, deeper, and independent platform to meet those needs,” said Wisdom in a press release. He will join Captrust as a principal. …

Restaurateur and hotelier Robert Thompson has started a new chapter of his career after moving to New Orleans with his family in 2021 and purchasing two of the city’s historic hotels. Based in Denver until recently, Thompson has owned and operated food and beverage establishments for more than a quarter century. He’s earned four “best new restaurant” awards for various concepts. Most notably, he founded and built the 20-unit “eatertainment” concept Punch Bowl Social, which landed on Fast Company magazine’s list of the 50 most innovative companies in the world and garnered Thompson recognition as a 2017 Ernst & Young Entrepreneur of the Year.  Now, this serial entrepreneur has sold his Denver mansion and settled in the Crescent City to lead a new hospitality company called Angevin & Co. …

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Urban Properties —  a New Orleans-based commercial development, property management, and brokerage firm — is overseeing the historic renovation of a Mid-City warehouse at 4201 Tulane Avenue, on the corner of Tulane Avenue and S. Solomon Street. The owner/developer, KCT Real Estate LLC, is a real estate investment company owned by Tony and Katherine Gelderman, whose previous historic redevelopment projects include 800 Magazine Street, 353 Carondelet Street and the Rink at 2727 Prytania Street. Built in the early 1920s, 4201 Tulane Avenue is a two-story, 36,000-square-foot structure, and is the former home of Riecke Cabinet Works (1925-1971) and Lighting Inc. (beginning in 1972). Urban Properties is managing the complete historic renovation process, the first phase of which includes structural rehabilitation, a new roof, and restoring the windows and exterior metal panels to honor the original 1920s façade. Additional phases will include building out the interior space once user(s) have been identified. Ownership expects an announcement will be forthcoming in early 2022. …

Home Bank has announce the promotion of Christopher L. Braud to senior vice president/New Orleans market president. Braud has served most recently at Home Bank as a senior commercial relationship manager. Braud brings 23 years of commercial lending experience to his new role where he will lead the commercial team in the greater New Orleans market. Braud’s predecessor, John J. Zollinger IV, is now serving the company as director of commercial banking. “We have a great team here in New Orleans, and I’m excited about the opportunity to lead this outstanding group of experienced banking professionals,” said Braud. “I look forward to working with my team serving the many businesses and owners in our community and helping them to achieve their goals.” …

Louisiana is set to receive $1 billion over the next five years to improve 400 bridges throughout the state as part of the Bridge Formula Program included in the bipartisan infrastructure package. Gov. John Bel Edwards last week announced the funding for Louisiana, which includes $202.6 million this fiscal year. In total, the bridge program administered through the Federal Highway Administration will dedicate $26.5 billion to states to help improve about 15,000 of the 45,023 bridges in poor condition nationwide. “Louisiana will be well served by this program, as our funding needs for infrastructure projects are immense,” Edwards said. “Bridge closures or weight restrictions severely hinder our agriculture, manufacturing and service industries, as well as public transit, commuter travel and school bus routes,” he said. “Limiting closures will provide a better overall quality of life to our residents, motorists and businesses.” (Victor Skinner) …

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Sunni LeBeouf

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After a two-year hiatus brought on by the coronavirus pandemic, the New Orleans Jazz & Heritage Festival returns this spring with headliners The Who, Stevie Nicks, Foo Fighters, Lionel Richie, Erykah Badu, Ludacris, Nelly and Willie Nelson. Festival organizers announced the lineup for the festival Thursday. It’s scheduled over two weekends, Friday, April 29, through Sunday, May 1 and Thursday, May 5, through Sunday, May 8. Festival producer Quint Davis said after talking with state and city health officials, organizers felt now was the time to bring the festival back to its original time slot. “We will follow whatever COVID protocols are in place at the time,” Davis stressed. “Whatever they want us to do we will do. It helps that we’re outdoors. It’s still four months away, but we think by April and May it will be a beautiful time. Everybody’s ready to come back.” (AP)

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