Silvercrest Asset Management Announces Initial Seed Investment With Australia's Construction and Building Unions Superannuation Fund
Silvercrest Asset Management Group (NASDAQ:SAMG) has secured a significant $1.3 billion USD seed investment from Australia's Construction and Building Unions Superannuation Fund (CBUS) to launch its Global Value Opportunity Equity Strategy.
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Rhea-AI Summary
Silvercrest Asset Management Group (NASDAQ:SAMG) has secured a significant $1.3 billion USD seed investment from Australia's Construction and Building Unions Superannuation Fund (CBUS) to launch its Global Value Opportunity Equity Strategy. The investment marks a major milestone for Silvercrest's international expansion and follows the recent hiring of Rehan Chaudhri and his team to lead the strategy.
CBUS, managing over $94 billion for 920,000+ members, represents Australia's construction and building workers. Silvercrest, with $35.1 billion in assets under management as of September 30, 2024, operates from multiple locations across the United States, providing investment advisory and family office services to wealthy families and institutional investors.
Positive
- Secured substantial $1.3 billion USD seed investment from CBUS
- Strategic expansion into global markets with new equity strategy
- Partnership with major institutional investor validates company's capabilities
- Potential for follow-on investments to drive further growth
Negative
- None.
Details
News Market Reaction – SAMG
The recorded move for SAMG in the trading session of this news was +0.39%.
Data tracked by StockTitan Argus. Session date unavailable.
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NEW YORK, Dec. 11, 2024 (GLOBE NEWSWIRE) -- Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) is pleased to announce an initial seed investment of
Richard Hough, Chairman and Chief Executive Officer of Silvercrest, remarked, “Silvercrest is grateful to CBUS for its substantial investment to launch our new Global Equity Strategy. We are excited and proud to partner with such a premier and sophisticated institutional investor. CBUS’s confidence underscores Silvercrest’s international reputation, robust infrastructure, and deep intellectual capital. We are confident that Silvercrest will attract follow-on investments, further enhancing growth, and fueling our global aspirations.”
Silvercrest’s Global Value Opportunity Equity investment team brings significant investment expertise, a proven track record, and experience managing equity mandates on behalf of large institutions and families around the world. The strategy’s approach uniquely combines relative and deep value opportunities across global equity markets. The equity capability further deepens Silvercrest’s intellectual capital in the International and Global space and complements Silvercrest’s existing International team and capabilities.
About CBUS
CBUS is the leading Industry Super Fund representing those that help build and maintain Australia, construction and building workers. As one of Australia’s largest super funds, CBUS manages more than
About Silvercrest Asset Management
Silvercrest was founded in April 2002 as an independent, employee-owned registered investment adviser. With offices in New York, Boston, Virginia, Atlanta, New Jersey, California and Wisconsin, Silvercrest provides traditional and alternative investment advisory and family office services to wealthy families and select institutional investors. As of September 30, 2024, the firm reported assets under management of
Contact: Richard R. Hough III
212-649-0601
rhough@silvercrestgroup.com
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