Silvercrest Asset Management Group has completed its previously announced acquisition of certain assets of Jamison, Eaton & Wood, for approximately USD11.3 million in cash, notes, stock and deferred consideration in the form of a cash earn-out.
With offices in Bedminster and Princeton, NJ, Jamison is a registered investment adviser that oversees nearly USD1 billion in total assets, primarily on behalf of high-net-worth families. Jamison also advises on sizeable non-discretionary assets for private and public institutions. The combined firm has approximately USD19 billion of assets under management.
According to Richard R Hough III, CEO and president of Silvercrest: "Our partners are excited about welcoming Jamison's professionals and private clients to Silvercrest. We know both will benefit from our firm's capabilities and special culture. The combination also expands Silvercrest's greater New York presence and contributes to the firm's institutional business."
Keith H Wood, a founder of Jamison, says: "For my colleagues and our clients, Silvercrest provides an opportunity to benefit from outstanding resources and a culture where client interests always come first, without exception."
