NEW YORK—May 9, 2013— Silvercrest Asset Management Group LLC (“Silvercrest”) has acquired the assets of Ten-Sixty Asset Management, LLC (“TSAM”), a New York-based registered investment advisor which provides customized advisory and risk management services on behalf of institutional and family clients. The combined firm has over $14 billion in assets under management.*
According to Richard Hough, president and COO of Silvercrest, “Our acquisition of Ten-Sixty augments our risk analytic and reporting capabilities, manager due diligence and asset allocation and advisory services. We also look forward to offering Ten-Sixty clients the opportunity to benefit from Silvercrest’s investment management expertise.”
Hough noted that Silvercrest welcomed four members of TSAM, including Philip Cannistraro and Robert Teeter, founding partners, Martin Loeser, portfolio manager and Joseph Agnello, operations. “TSAM has worked with Silvercrest since 2009 and I have known the firm’s top executives for ten years,” said Mr. Teeter. “We have long admired Silvercrest and its management, its excellent investment capabilities, and its dedication to client service. We are excited about continuing to provide our specialized advisory services to investors and enhancing our offerings at Silvercrest.”
About Silvercrest Asset Management
Silvercrest Asset Management Group LLC was founded in April 2002 as an independent, employee-owned registered investment advisor. The firm has grown to become one of the preeminent wealth management boutiques in the United States. With offices in New York, Boston and Charlottesville, Silvercrest provides traditional and alternative investment advisory and family office services to wealthy families and select institutional investors. The firm currently oversees more than $14 billion of client assets. For further information, please visit www.silvercrestgroup.com.
Richard Hough III
*As of May 2013, including discretionary and non-discretionary assets under management.