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Ultra-High Net Worth Firm Makes Family Office Acquisition
Silvercrest Asset Management is in the process of acquiring Heritage Financial Management, a multi-family office based in Virginia, for an u...
Silvercrest Asset Management is in the process of acquiring Heritage Financial Management, a multi-family office based in Virginia, for an undisclosed sum. Heritage has around $400 million of assets under management.
The deal represents the second major purchase by the New York City-based ultra-high net worth firm this year. In January, Silvercrest bought the LongChamp Group, a family office directed at the European market.
Silvercrest was set up in early 2002 by G Moffat Cochran and Martin Jaffe, both former senior managers at Credit Suisse Asset Management in the US. Since then Silvercrest has grown rapidly through acquisitions.
