Salient Partners has acquired Houston, TX-based Teton Strategic Investments to build out its private equity offering for high net worth clients.

Salient Partners has acquired
Houston, TX-based Teton Strategic Investments to build out its private equity offering for high net worth clients.

Teton focuses on the
energy and natural resources sector, but also has experience in the areas of
technology, health sciences, growth capital/buyout, and secondary and financial
services.

“In addition to vetting
the deals for quality, Teton will bring new scale to Salient, granting access
to deals that were previously inaccessible to many clients who lacked the
millions of dollars required to participate,” the firm 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,” added John Blaisdell, chief executive of Salient.

Michael Mithoff, formerly president
and founder of Teton, will now serve as managing director and head of private investments
at Salient. In his new role, he
will work with Lee Partridge, chief investment officer, in sourcing private equity transactions.

Mithoff founded Teton in
2006 to manage his family’s investment office and advise other families on
portfolio allocation and portfolio management.

Salient, also based in Houston, said it expects to
conduct between four and six deals a year, depending on the availability of
“quality” opportunities.