Carter + Co is a Dallas based privately owned investment firm with wide ranging diligence expertise and a proven track record since 2016.


The firm continually seeks to deploy capital in real estate, credit, and esoteric markets across the United States. We aim to provide superior risk-adjusted returns, while being a creative partner for acquisitions, growth, capitalization, and other special situation investments.​



All product types


Investment sizes range from $500K - $10M with a strong preference for sponsor-backed transactions


Backed by real estate or other physical assets


All product types


Clayton Carter, President and Founder

Clayton manages business activities and sets the strategic direction of the company. He has over nine years of executive level experience, specifically at the accounting and financial level, in the alternative asset and private equity space. Clayton studied at Southern Methodist University, graduating Summa Cum Laude with a Masters in Accounting, a Bachelor of Business Administration, and a Bachelor of Science in Financial Economics.

Jonathan Bray, CPA, Chief Financial Officer

Jonathan is accountable for the financial planning, accounting, tax compliance, audit, and investor reporting for Carter + Co.  He has over twenty years of executive and management level experience in the alternative investments industry. Jonathan graduated with honors from Texas Tech University with a Masters in Accounting and Bachelor of Business Administration.

Conrad Morrison, Chief Compliance Officer and General Counsel

Conrad oversees all legal, regulatory and compliance matters. He joined Carter + Co. after ten years as the Chief Compliance Officer for Crow Holdings Capital Partners, a Dallas-based real estate fund manager with approximately $12 billion in regulatory assets under management. Additionally, Conrad has worked with hedge funds and private equity funds and received his J.D. from the University of Alabama in 2004.

Austin Fry, Chief Investment Officer

Austin is responsible for managing the acquisitions, capital markets, investor relations, and development activities. He began his career with Blue River Partners, where he managed several private equity engagements. Austin studied at Texas Christian University, where he graduated with a Masters in Accounting with a Financial Valuation Emphasis and a Bachelor of Business Administration.

Connor Henwood, Chief Operating Officer

Connor’s primary responsibility is to ensure the company remains on a strategic and profitable path, specifically overseeing all aspects of the due diligence, onboarding, and property management operations for the acquired real estate. Connor graduated from Stephen F. Austin University with a Bachelor of Science in Geospatial Sciences.