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.