Houston-based Salient Partners has entered into a definitive agreement to acquire RDG Capital, a boutique wealth advisory firm and master limited partnership asset manager headquartered in the same city.

Salient manages $16 billion in assets and RDG approximately $1 billion. The combined firm will have approximately 100 investment professionals and staff catering to private and institutional clients.

RDG’s principals Gregory Reid and J Cole Dawson III will join the senior management team at Salient. Reid will become president and chief executive officer of Salient’s MLP business. Dawson will become president and CEO of Salient’s wealth management business.

John Blaisdell co-founder of Salient said in a statement that the combined firm plans to expand its wealth and asset management businesses.

“Cole and I are thrilled to join Salient as equity owners and part of the senior management team,” said Reid. “Salient also has a terrific culture and offers high-net-worth families a full range of family office and financial planning services.”

Salient is in growth mode. Last month the firm acquired Integrity Capital Services and named its founder, Lee Partridge, chief investment officer.