Denver Investments is a highly regarded independent, employee-owned investment firm based in Denver, Colorado, with approximately $7.3bn in assets under management. The combined entity will be named Segall Bryant & Hamill (SBH).
SBH CEO Philip L. Hildebrandt said: “This acquisition represents an opportunity to bring together two culturally aligned organizations with complementary investment capabilities. The union will allow us to deepen our investment talent and broaden our investment offerings, geographical presence, client service, and distribution capabilities."
Both firms have strong institutional and wealth management businesses, in addition to well-established mutual fund platforms. It is expected that the Westcore Funds—which are advised by Denver Investments—will become part of the SBH mutual fund family, subject to proxy approval.
Denver Investments portfolio manager and partner Derek Anguilm said: “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.
“We are excited about the opportunities presented by our combined talents and shared beliefs.”
The transaction is expected to close in the second quarter of 2018, subject to customary closing conditions.
RBC Capital Markets served as exclusive financial advisor to Denver Investments. Goodwin Proctor is acting as legal counsel to Segall Bryant & Hamill. Morgan Lewis is acting as legal counsel to Denver Investments. Financial terms were not disclosed.
