Princeton Equity Partners, an independent full-service financial firm has opened its Austin, Texas, office to expand its growing money management business.

The new office marks the second venture of its kind, a regional expansion supporting the company’s ongoing growth efforts. Operations officially began on 1 July 2013.

The Texas market is particularly attractive as it was recently recognised nationally for its booming economy, especially in the state’s capital.

Princeton Equity Partners is capitalising on this opportunity to educate the individual investors, who are unaware of the prospects in institutional quality investments. The company is developing new client relationships and ultimately providing them with decent returns.

Michael DiGaetano, CIO of Princeton Equity Partners, said: "We are seeing increased demand from high net worth to mass affluent investors, particularly in alternative investments such as REITs and Business Development Companies (BDCs).

"Investors facing retirement are increasingly attracted to alternative investments because they provide preservation of principle and regular distribution of income while not being correlated to the markets. We believe Texas and Austin in particular, with its growing base of retirees and small business owners, will be an area where we will flourish," he added.

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