Salient Partners buys money manager RDG Capital

* Salient will manage $17 billion in assets with deal

* RDG specializes in master limited partnerships

NEW YORK, Dec 2 (BestGrowthStock) – Salient Partners LP, which
manages $16 billion in assets for wealthy families, said on
Thursday it agreed to buy RDG Capital LLC, a Houston boutique
with $1 billion in assets and an expertise in energy
partnership investments.

RDG manages a series of funds that invest in master limited
partnerships (MLPs), companies that own energy pipelines and
other assets. These tax-advantaged firms pay out almost all
their earnings to unit-holders, making them increasingly
popular among yield-hungry investors.

The combined firm will have 100 employees.

Salient’s MLP business, to be led by RDG co-founder Greg
Reid, will include long/short and long-only portfolios as well
as private equity investments. RDG co-founder Cole Dawson will
become chief executive of Salient’s wealth management
business.

As part of the deal, Reid and Dawson will receive Salient
equity and join the firm’s senior management team. Financial
terms were not disclosed.
(Reporting by Joseph A. Giannone)

Salient Partners buys money manager RDG Capital