Texas-based investment firm Salient Partners has acquired Integrity Capital Services and appointed Integrity founder Lee Partridge as Salient CIO.
Partridge currently serves as portfolio strategist for the San Diego County Employees Retirement Association’s (SDCERA) $7.7 billion portfolio, where he has assisted in the implementation of a new asset allocation framework and helped the fund increase its exposure to alternative investments. Prior to this, Partridge served as deputy CIO of Teachers Retirement System of Texas (TRS), a plan with assets of approximately $95 billion in 2010.
Salient’s acquisition of Integrity is a part of an overall strategy to incorporate a quantitative approach to asset allocation, focus on cost savings for the benefit of clients and use alternative investments and hedging strategies to enhance overall risk-adjusted returns.
Partridge said: “By combining my firm with Salient, we have created a platform that is unique in the industry. The platform combines a sophisticated approach to managing risk and assets for institutions and individuals alike, particularly in a rapidly changing investment environment.”
Salient Partners, an $8.3 billion investment firm, is based in Houston, Texas.