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Salient Partners acquires RDG Capital

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Salient Partners, a USD16bn asset and wealth management firm, is entering into a definitive agreement for the acquisition of RDG Capital, a boutique wealth advisory firm and master limited partnerships asset manager headquartered in Houston.

RDG Capital manages approximately USD1bn. The combined organisation will manage just over USD17bn and have approximately 100 investment professionals and staff serving both private and institutional clients.

RDG’s principals – Gregory A. Reid and J. Cole Dawson III – each have over 20 years of investment industry experience and they will join the senior management team at Salient. Reid will become president and chief executive of Salient’s MLP business which includes long/short MLP funds, long only MLP portfolios and MLP private equity investments. Dawson will become president and chief executive of Salient’s wealth management business responsible for managing the team of seasoned wealth management advisers.

John A. Blaisdell, managing director and co-founder of Salient, says: “We are delighted to have Greg and Cole join as partners here at Salient. Greg and Cole bring significant experience and depth to our already deeply experienced management team. Together, our plan is to continue to build and expand our wealth and asset management businesses to become one of the leading investment management firms in the country.”

Reid adds: “Cole and I are thrilled to join Salient as equity owners and part of the senior management team. Salient is one of the most innovative firms in the investment business. Our clients will immediately benefit from this expertise. Salient also has a terrific culture and offers high-net-worth families a full range of family office and financial planning services. Since I started in the business in 1991, I have always admired Salient’s co-founders – Haag Sherman, Andrew Linbeck, John Blaisdell and Jeremy Radcliffe – as leaders in our industry and I am proud to join them now at Salient.”

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