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--Mark Faro

Consulting firms Clearbrook Global and Madison Portfolio Consultants have merged. The combined entity, which will use the Clearbrook name, has around $30 billion under advisement. Clearbrook’s client base included about 45% endowments and foundations, but Madison’s was roughly 90%, said Elliott Wislar, president. The newly combined firm now has an increased research capacity, which will aide with outsourced cio clients, he explained.

Madison was founded in 1990 by Alan Weisenberg. As part of the merger, Madison consultants Frederick Weiss, Daniel Lehrer and John Flack have moved over to Clearbrook.