Salient Partners
| Company type | Private |
|---|---|
| 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)