Salient Partners: Difference between revisions
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{{Infobox Company |
{{Infobox Company |
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company_name = Salient Partners |
| company_name = Salient Partners |
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company_type = [[Private company|Private]] |
| company_type = [[Private company|Private]] |
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foundation = 2002 |
| foundation = 2002 |
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| defunct = November 2022 |
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| fate = Acquired by Westwood Holdings Group |
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⚫ | assets = $14 billion<ref name=Brazil>{{cite web |url=https://www.bloombergquint.com/markets/2017/05/26/templeton-to-salient-eyeing-brazil-as-inflows-gush-after-selloff |title=Templeton to Salient Eyeing Brazil as Inflows Gush After Selloff|last1=Bartenstein|first1=Ben|last2=Cota|first2=Isabella|date=May 26, 2017 |publisher=[[BloombergQuint]] |access-date=December 4, 2017}}</ref> |
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⚫ | | assets = $14 billion (2017)<ref name=Brazil>{{cite web |url=https://www.bloombergquint.com/markets/2017/05/26/templeton-to-salient-eyeing-brazil-as-inflows-gush-after-selloff |title=Templeton to Salient Eyeing Brazil as Inflows Gush After Selloff|last1=Bartenstein|first1=Ben|last2=Cota|first2=Isabella|date=May 26, 2017 |publisher=[[BloombergQuint]] |access-date=December 4, 2017}}</ref> |
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'''Salient Partners''' |
'''Salient Partners''' was a [[private equity]] firm based in [[Houston |Houston, Texas]], with offices in [[New York, New York|New York City]], [[San Francisco]] and [[Newport Beach]]. The firm's strategies included [[emerging markets]],<ref name=Brazil/> [[real estate investment trusts|real estate investment trusts (REITs)]], [[master limited partnership|master limited partnership (MLPs)]] investments,<ref>{{cite web |url=http://www.houstonchronicle.com/business/chron-100/article/Shell-and-other-Houston-MLPs-thrive-for-now-6334317.php|title=Shell and other Houston MLPs thrive for now|last=Blum|first=Jordan|date=June 20, 2015|publisher=[[Houston Chronicle]] |access-date=December 4, 2017}}</ref> [[managed futures]],<ref>{{cite web |url=https://www.bloomberg.com/news/articles/2017-07-07/cross-asset-quants-bitten-by-fed-facing-worst-losses-in-a-decade|title=Cross-Asset Quants Are Facing Their Worst Losses in a Decade|last=Burger|first=Dani|date=July 7, 2017|publisher=[[Bloomberg L.P.|Bloomberg]] |access-date=December 4, 2017}}</ref> [[risk parity]] funds,<ref name=RiskParity>{{cite web |url=https://www.ft.com/content/d210373e-5142-11e5-8642-453585f2cfcd|title=Risk parity funds suffer a cruel summer|last=Wigglesworth|first=Robin|date=September 2, 2015|publisher=[[Financial Times]] |access-date=December 4, 2017}}</ref> and [[liquid alternative investment]]s.<ref>{{cite web |url=https://www.bloomberg.com/news/articles/2015-02-11/salient-said-to-buy-forward-to-expand-alternative-funds|title=Salient Said to Buy Forward to Expand Alternative Funds|last=Bit|first=Kelly|date=February 11, 2015|publisher=[[Bloomberg L.P.|Bloomberg]] |access-date=December 4, 2017}}</ref> The firm was acquired by Westwood Holdings Group in 2022. |
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==History== |
==History== |
Latest revision as of 21:35, 5 January 2024
Company type | Private |
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Industry | Private equity |
Founded | 2002 |
Defunct | November 2022 |
Fate | Acquired by Westwood Holdings Group |
Headquarters | Houston, United States |
Key people | John A. Blaisdell (CEO) Jeremy L. Radcliffe (President) W. Ben Hunt (Chief Investment Strategist) |
Products | Venture capital Emerging markets Risk parity |
Total assets | $14 billion (2017)[1] |
Website | www.salientpartners.com |
Salient Partners was a private equity firm based in Houston, Texas, with offices in New York City, San Francisco and Newport Beach. The firm's strategies included emerging markets,[1] real estate investment trusts (REITs), master limited partnership (MLPs) investments,[2] managed futures,[3] risk parity funds,[4] and liquid alternative investments.[5] The firm was acquired by Westwood Holdings Group in 2022.
History
[edit]The firm was founded in 2002 by Andrew Linbeck, Haag Sherman, Jeremy Radcliffe and John Blaisdell.[6] In 2003, the Sanders Morris Harris Group (SMHG) secured a 50% stake in the firm, and Salient combined its assets with SMHG's Pinnacle Management & Trust Co.[7] SMHG sold its ownership interests back to Salient in 2008.[8] In 2015, Salient was the third largest Houston-area money management firm ranked by local assets under management at $21.5 billion.[9] That same year, the firm completed its acquisition of Forward Management LLC, reporting a resulting $27.6 billion in combined assets.[10]
In 2012, the firm launched the Salient Risk Parity Index, purportedly the first of its kind for the industry.[11]
In February 2020, J. Philip Ferguson took over as interim CEO following the unexpected death of founder and long-term CEO John Blaisdell. Later that year the board appointed Bill Enszer as CEO. Prior to becoming CEO, Enszer was a managing director with the firm for over 10 years.[12]
In November 2022, Salient Partners was acquired by Westwood Holdings, an investment and wealth management firm based in Dallas.[13]
Media
[edit]Dr. W. Ben Hunt, Salient Partners' Chief Investment Strategist is the primary author for Salient's blog and newsletter Epsilon Theory,[14] a site that analyzes market trends through the lens of game theory.[15]
References
[edit]- ^ a b Bartenstein, Ben; Cota, Isabella (May 26, 2017). "Templeton to Salient Eyeing Brazil as Inflows Gush After Selloff". BloombergQuint. Retrieved December 4, 2017.
- ^ Blum, Jordan (June 20, 2015). "Shell and other Houston MLPs thrive for now". Houston Chronicle. Retrieved December 4, 2017.
- ^ Burger, Dani (July 7, 2017). "Cross-Asset Quants Are Facing Their Worst Losses in a Decade". Bloomberg. Retrieved December 4, 2017.
- ^ Wigglesworth, Robin (September 2, 2015). "Risk parity funds suffer a cruel summer". Financial Times. Retrieved December 4, 2017.
- ^ Bit, Kelly (February 11, 2015). "Salient Said to Buy Forward to Expand Alternative Funds". Bloomberg. Retrieved December 4, 2017.
- ^ Hillen, Michelle (May 24, 2009). "Throwing away the cookie cutter: Salient Partners". Houston Business Journal. Retrieved December 4, 2017.
- ^ "Sanders Morris Harris acquires stake in Salient Partners". Houston Business Journal. May 6, 2003. Retrieved December 4, 2017.
- ^ "Sanders Morris Sells Salient Partners' Stake". Financial Advisor. October 2, 2008. Retrieved December 4, 2017.
- ^ Henry, Madison (March 6, 2015). "Largest Houston-Area Money Management Firms". Houston Business Journal. Retrieved December 6, 2017.
- ^ Williamson, Christine (February 11, 2015). "Salient Partners to acquire Forward Management". Pensions & Investments. Retrieved December 4, 2017.
- ^ McCann, Bailey (August 21, 2012). "Salient Partners launches Salient Risk Parity Index". Opalesque. Retrieved December 4, 2017.
- ^ Mathews, Chris (September 14, 2020). "Salient Partners taps 10-year company veteran Bill Enszer as next CEO". Houston Business Journal. Retrieved March 24, 2021.
- ^ France, Chandler (22 November 2022). "Westwood Holdings closes acquisition of Houston-based asset manager Salient Partners". www.bizjournals.com. Retrieved 5 January 2024.
- ^ Santoli, Michael (June 13, 2017). "Why investors trust companies more than governments". CNBC. Retrieved December 4, 2017.
- ^ Lopez, Linette (June 23, 2017). "The Wall Street dad bro is having an existential crisis". Business Insider. Retrieved December 4, 2017.
External links
[edit]- Salient Partners (company website)