NEW YORK, Jan. 15, 2019
/PRNewswire/ -- Silvercrest Asset Management Group Inc.
(NASDAQ: SAMG) (the "Company") today announced that Silvercrest
Asset Management Group LLC ("Silvercrest") has completed its
acquisition of certain assets of Neosho Capital, LLC. ("Neosho").
Located in La Jolla, CA, Neosho is
a registered investment adviser which specializes in international
investment management, overseeing assets on behalf of institutions
and high-net-worth families.
According to Richard R. Hough
III, Chairman and CEO of Silvercrest, "Our combination with
Neosho brings a high-quality international investment management
capability to Silvercrest, which will benefit our high net worth
client base and resonate with institutional investors. Our partners
are excited about welcoming Neosho's professionals and clients to
Silvercrest. We know both will benefit from our firm's capabilities
and special culture."
Chris Richey, a founder of
Neosho, said, "My partners and I are honored to join forces with
the outstanding people of Silvercrest to expand the breadth of
their portfolio offerings, as well as to provide a base of
operations on the West Coast. Investment management is, at its
core, about the work you do for your clients and the professionals
you work with, and we believe this is an outstanding combination of
people, resources and energy."
ABOUT SILVERCREST
Silvercrest was founded in April 2002
as an independent, employee-owned registered investment adviser,
and as of September 30, 2018,
Silvercrest reported $21.7 billion in
assets under management on behalf of family and select
institutional clients. With offices in New York, Boston,
Virginia, New Jersey and
California, Silvercrest provides
traditional and alternative investment advisory and family office
services to wealthy families and select institutional
investors.
Forward-Looking Statements and Other Disclosures Certain
statements in this release, and other written or oral statements
made by or on behalf of the Company, are forward-looking statements
within the meaning of the safe harbor provisions of the U.S.
Private Securities Litigation Reform Act of 1995. In some cases,
you can identify these statements by forward-looking words such as
"may", "might", "will", "should", "expects", "intends", "plans",
"anticipates", "believes", "estimates", "predicts", "potential" or
"continue", the negative of these terms and other comparable
terminology. These forward-looking statements, which are subject to
risks, uncertainties and assumptions, may include projections of
our future financial performance, future expenses, anticipated
growth strategies, descriptions of new business initiatives and
anticipated trends in our business or financial results. These
statements are only predictions based on our current expectations
and projections about our acquisition of certain assets of Jamison.
Important factors that could cause actual results, level of
activity, performance or achievements to differ materially from
those indicated by such forward-looking statements include but are
not limited to: incurrence of net losses, fluctuations in quarterly
and annual results, adverse economic or market conditions, our
expectations with respect to future levels of assets under
management, inflows and outflows, our ability to retain clients
from whom we derive a substantial portion of our assets under
management, our ability to maintain our fee structure, our
particular choices with regard to investment strategies employed,
our ability to hire and retain qualified investment professionals,
the cost of complying with current and future regulation, coupled
with the cost of defending ourselves from related investigations or
litigation, failure of our operational safeguards against breaches
in data security, privacy, conflicts of interest or employee
misconduct, our expected tax rate, and our expectations with
respect to deferred tax assets, adverse economic or market
conditions, incurrence of net losses, adverse effects of management
focusing on implementation of a growth strategy, failure to develop
and maintain the Silvercrest brand, failure to successfully
integrate the acquired assets into our business and other factors
disclosed under "Risk Factors" in our annual report on Form 10-K
for the year ended December 31, 2014.
We undertake no obligation to publicly update or review any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as required by law.
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SOURCE Silvercrest Asset Management Group Inc.