Partridge serves as the Portfolio Strategist on San Diego County Employees Retirement Association’s (SDCERA) approximately $7.7 billion portfolio (see San Diego County Selects Integrity Capital as Outsourced CIO).
Salient said the acquisition is part of an overall strategy to have an industry leading investment platform, which focuses on a quantitative approach to asset allocation, a focus on cost savings for the benefit of clients, and a strategy to use alternative investments and hedging strategies to enhance overall risk-adjusted returns. By combining its investment and distribution capabilities with the intellectual property developed by Partridge at Integrity, Salient believes that it will have an unparalleled investment and servicing model, which will inure to the benefit of clients both large and small, according to the announcement.
SDCERA Board Chairman Douglas Rose said he believes that the merger of Integrity and Salient is a very positive development for SDCERA. “The merger will bring, at no additional cost to SDCERA, added resources that will help us fill the gaps we currently have in our current investment staff. We look forward to Lee and Salient Partners successfully implementing the innovative portfolio Lee has created for SDCERA,” he said in the announcement.