Vulcan Capital acquired 30% of investment management firm Silvercrest Asset Management. Terms were not disclosed. Vulcan acquired 25% from Rosemont Partners I, a private equity fund run by Rosemont Investment Partners, and a private investor; 5% came from Silvercrest. The remainder of the firm is owned by Silvercrest principals.
Vulcan is the private investment group owned by Microsoft co-founder Paul Allen, said Richard Hough, Silvercrest spokesman. Silvercrest has $8 billion under management, with less than 10% managed for institutional investors, Mr. Hough said.