Houston’s Sanders Morris Harris Group Buys Global Financial Services Stake

Jan 4 2011 | 10:57am ET

Houston-based wealth/asset management firm Sanders Morris Harris Group has completed its purchase of a 50.1% stake in Global Financial Services. The transaction increases Sanders Morris Harris' client assets to approximately $16.1 billion.

Global Financial, also based in Houston, manages about $4 billion. Its principals will continue as managing directors and members of the board of managers of the firm and it will retain its own name and quarters. Global Financial’s founders will maintain ownership of the balance of the business. Its clients are largely international executives, their families and corporations. Its 2010 revenues were approximately $16.4 million.

Sanders Morris Harris also announced that it had consummated the previously announced spinoff of its Concept Capital division. It retains a 43.5% profits interest in the new entity.

Sanders Morris Harris has more than 560 employees in 20 states.


In Depth

Fundraising for Mid-Sized PE Funds: Should You Use a Registered B/D?

Dec 6 2016 | 7:18pm ET

When does a fund sponsor need to use a registered broker/dealer when raising capital...

Lifestyle

Trump Attends 'Villains and Heroes' Costume Party Dressed As...Himself

Dec 5 2016 | 11:16pm ET

U.S. President-elect Donald Trump attended a "Villains and Heroes" costume party...

Guest Contributor

A Hard Look At Your ‘Soft’ Hedge Fund Marketing Information

Dec 8 2016 | 9:03pm ET

Conventional wisdom holds that due diligence examines quantitative as well as qualitative...

 

From the current issue of

Since the inception of Modern Trader, a core editorial theme has centered on the wisdom and power of crowds. Editorial emphasis has focused on companies and projects engaged in the collection and analysis of information. 

AVAILABLE NOW at BARNES & NOBLE

NEWSTAND LOCATOR