US Wealth Manager Expands With New England Acquisition

Tom Burroughes

8 October 2008

Silvercrest Asset Management Group said it has opened a Boston office with its acquisition of Marathon Capital Group, a registered investment advisor which oversees approximately $600 million primarily on behalf of high net worth families. The combined firm will have nearly $10 billion in assets under advisement.

The price paid for the acquisition was not disclosed. WealthBriefing could not immediately reach the companies to comment on the matter.

Moffett Cochran, co-founder and chief executive of Silvercrest, said: "This strategic acquisition of one of Boston's leading wealth management boutiques enables us to strengthen Silvercrest's presence in the important New England market."

Marathon Capital's chief executive, Todd Kanter, will join Silvercrest as a managing director and member of the firm's portfolio management committee.

Silvercrest's Boston office will gain access to the firm's complete investment management and wealth planning capabilities, including proprietary value equity and fixed income disciplines, along with alternative investment advisory services.

Silvercrest was founded in April 2002 as an independent, employee-owned registered investment advisor. The firm's 99 employees currently oversee nearly $10 billion of assets.