Salient Partners, a US-based asset management firm, has purchased Teton Strategic Investments to offer selective private equity opportunities to high-net-worth clients.
Salient said that through this acquisition the process around its systematic evaluation and due diligence of PE offerings will be enhanced and enable the firm to use its existing pipeline to secure new options that fit the needs of its clients.
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Salient added that Teton will offer them with access to deals and allow them to pool clients’ money into one vehicle with a much lower entry level per qualified purchaser.
Michael Mithoff, president of Teton, will assume the role of managing director and head of private investments at Salient, working alongside Lee Partridge, chief investment officer of Salient.
John Blaisdell, CEO of Salient, said: "Partnering with Teton has helped us formalize a solution for clients who have long desired access to private equity deals that were out of reach for some clients due to high investment minimums.
"We can now build a regular pipeline of vetted, quality deals and offer them to our wealth clients, matching their risk profiles and potential risk return character," Blaisdell added.
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