Wednesday, 29 June 2016
Last updated 1 hour ago
Dec 2 2010 | 3:24pm ET
Houston-based Salient Partners, a $16 billion asset and wealth management firm, will acquire RDG Capital, a boutique wealth advisory firm also headquartered in Houston.
RDG Capital manages approximately $1 billion, including a master limited partnerships (MLPs) complex and a wealth management practice. The combined organization will manage just over $17 billion and have approximately 100 investment professionals and staff dedicated to serving both private and institutional clients.
RDG’s principals Greg Reid and Cole Dawson will join the senior management team at Salient. Reid will become president and CEO of Salient’s MLP business, which includes long/short MLP funds, long-only MLP portfolios and MLP private equity investments. Dawson will become president and CEO of Salient’s wealth management business.
Commenting on the move, Reid said, “Cole and I are thrilled to join Salient as equity owners and part of the senior management team. Salient is one of the most innovative firms in the investment business. Our clients will immediately benefit from this expertise.”