Davidson Investment Advisors to Acquire Caprin Asset Management
Summary
GREAT FALLS, Mont.--(BUSINESS WIRE)--Davidson Investment Advisors, Inc. (Davidson Investment Advisors) announced today that it has entered into a definitive purchase agreement to acquire Richmond, Virginia-based Caprin Asset Management, LLC (Caprin). Caprin specializes in municipal and taxable fixed income investments, and manages approximately $1.3 billion in client assets. “With enhanced investment resources for our strategies and the capabilities of a larger asset manager, we look forward to leveraging the strength of our combined platform for our respective clients.” Upon closing of the transaction, Davidson Investment Advisors will manage over $4 billion in Assets Under Administration, with Caprin’s business operating as “Caprin Asset Management, a division of Davidson Investment Advisors.” The transaction is subject to customary closing conditions and is expected to be completed in the first calendar quarter of 2023. Davidson Companies, works with high-net-worth individuals and institutions across the nation, providing personalized investment solutions and expert advice. Davidson’s transparent, tailored portfolios provide a long-term, actively managed, risk-aware approach to investing that aligns its team with its clients’ most important objectives.