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

GSAM's Papagiannis: Liquid Alternatives For The Long Run

Apr 21 2017 | 8:44pm ET

Interest in liquid alternatives cooled a bit last year amid a broad shift in investor...

Lifestyle

Aston Martin Returns To Debt Market As DB11 Drives Turnaround

Mar 31 2017 | 5:21pm ET

James Bond’s preferred carmaker is returning to the public debt markets for the...

Guest Contributor

Debunking Conventional Investment Wisdom (Part II)

Apr 17 2017 | 5:56pm ET

The alternative investment industry is currently replete with buzzwords around data...