Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:With a $7.3B-AUM Deal,  a Chi-Town Shop's Team Doubles Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, January 12, 2018

With a $7.3B-AUM Deal, a Chi-Town Shop's Team Doubles

Reported by Kenny He

Philip L. Hildebrandt, CEO of Chicago, Illinois-based Segall Bryant & Hamill, LLC (SBH), is sealing a deal for SBH to buy Denver Investments [profile].

Employee-owned Denver Investments, based in Denver, Colorado, manages $7.3 billion in AUM, as of December 31, 2017. The pricing and terms of the deal were not disclosed, though it includes a mixture of equity and cash. The deal will effectively increase SBH's size by nearly 60 percent to $19.7 billion in AUM.

Westcore Funds, which is advised by Denver Investments, will also become part of the SBH mutual fund family. Both Westcore Funds and Denver Investments' brand will switch to the SBH funds brand after the acquisition. The deal is expected to close in the second quarter of 2018.

RBC Capital Markets advised Denver Investments on the deal, while Goodwin Proctor provided legal counsel. SBH did not work with an investment bank on the deal.

In terms of leadership, the oversight committee at Denver Investment will now move under the leadership of Hildebrandt. Hildebrandt explains that the move will allow the eight key value generators to re-focus their efforts to solely bringing in revenue instead of dividing their time between the committee and their job.

Cindy Knowlton, head of distribution at Denver Investment, confirmed that all key decision makers at Denver Investments will remain in place and a total of 69 employees will now be part of SBH. Hildebrandt expects that the combined firm will have an estimated 130 employees. The Denver offices will also be kept by SBH.

In an emailed statement, Knowlton tells the MFWire, "The investment approaches of each strategy will remain the same, and our investment teams will continue to run autonomously within a collegial framework, a value held essential by both Denver Investments and SBH."

"This acquisition represents an opportunity to bring together two culturally aligned organizations with complementary investment capabilities," states Hildebrandt. "The union will allow us to deepen our investment talent and broaden our investment offerings, geographical presence, client service, and distribution capabilities."

“Segall Bryant & Hamill places the same importance as we do on striving to deliver consistently attractive investment returns and establishing lasting client relationships through a strong service model,” states Derek Anguilm, PM and partner of Denver Investments. “We are excited about the opportunities presented by our combined talents and shared beliefs.”

"[We are] very excited because this is an opportunity to take two excellent firms to put them together to create premier investments that have exposure to both institutional and wealth management across the country," Hildebrandt says. He also adds that SBH will not be acquiring any more businesses for the time-being.

SBH, founded in 1994, previously acquired Trees Investment Council, a RIA firm based in Chicago, Illinois, and Philadelphia Independent Advisors, an international equity manager based in Center City, Philadelphia.  

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2021: Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly


  1. ETF.com Awards 2020, April 20
  2. The 31st Sub-Advised Funds Forum, Apr 20-21
  3. IDC Virtual Roundtable: Florida - April 2021, April 20
  4. IMEA Marketing Council Roundtable | Engaging Advisors In a Virtual World, April 21
  5. MFDF Director Discussion Series - Open Forum via Zoom (Northeast), April 21
  6. FIASI virtual event - ESG in Fixed Income: Shining a Light on Transparency, Apr 22-23
  7. IDC Virtual Roundtable: Alabama, Georgia, North Carolina, and South Carolina - April 2021, April 22
  8. IDC Webinar: The Future of the Workplace - April 2021, April 23
  9. IDC Virtual Roundtable: Arkansas, Louisiana, Mississippi, Oklahoma, Tennessee, and Texas - April 2021, April 27
  10. MFDF Case Studies in Fund Oversight — A Virtual Roundtable for Directors, Apr 28-29
  11. IDC Virtual Roundtable: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, and South Dakota - April 2021, April 29
  12. 44th Annual AIMSE Marketing & Sales Conference, May 2-4
  13. MFDF Director Discussion Series - Open Forum via Zoom (Southeast), May 5
  14. ICI 2021 General Membership Meeting - Day 1, May 6
  15. Emerging Manager Forum USA, May 12-14
  16. ICI 2021 General Membership Meeting - Day 2, May 13
  17. 2021 FINRA Annual Conference, May 18-20
  18. IDC Speaker Series - Abby Joseph Cohen: A Conversation About the State of the Global Markets, May 19
  19. 2nd annual ETFGI Global ETFs Insights Summit - USA, May 19-20
  20. MFDF Director Discussion Series - Open Forum via Zoom, May 19
  21. Irish Funds Online Annual Global Funds Conference 2021, May 19-20
  22. MFDF webinar - Fund Director Compensation: MPI Annual Survey (2021), May 20
  23. ICI 2021 Operations and Technology Conference, May 20
  24. MFDF webinar - Board Oversight of a Fund's Derivatives Risk Management and Fund Compliance With Rule 18f-4, May 24
  25. MFDF webinar - The Use of Alternative Data Sources and Considerations for Fund Directors, May 26
  26. IDC 2021 Virtual Fund Directors Workshop, June 3




©All rights reserved to InvestmentWires, Inc. 1997-2021
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use