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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): December 11, 2024
SILVERCREST ASSET MANAGEMENT GROUP INC.
(Exact name of registrant as specified in its charter)
Delaware |
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001-35733 |
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45-5146560 |
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(State or other jurisdiction of incorporation) |
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(Commission File Number) |
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(IRS Employer Identification No.) |
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1330 Avenue of the Americas, 38th Floor New York, New York |
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10019 |
(Address of principal executive offices) |
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(Zip Code) |
Registrant’s telephone number, including area code: (212) 649-0600
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
Title of each class: |
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Trading Symbol(s) |
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Name of each exchange on which registered: |
Class A common stock, $0.01 par value per share |
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SAMG |
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Nasdaq Global Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 8.01 Other Events.
On December 11, 2024, Silvercrest Asset Management Group Inc. (the “Company”) issued a press release announcing an initial seed investment of $1.3 billion USD ($2.0 billion AUD) by Australia’s Construction and Building Unions Superannuation Fund. The seed investment will formally launch the Company’s Global Value Opportunity Equity Strategy. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.
Item 9.01 Financial Statements and Exhibits.
Exhibit |
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Description |
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99.1 |
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Press Release of Silvercrest Asset Management Group Inc., dated December 11, 2024. |
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104 |
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Cover Page Interactive Data File (embedded within Inline XBRL document). |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated: December 11, 2024
Silvercrest Asset Management Group Inc. |
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By: |
/s/ Scott A. Gerard |
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Name: Scott A. Gerard |
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Title: Chief Financial Officer |
Exhibit 99.1
SEED INVESTMENT TO GLOBAL VALUE OPPORTUNITY STRATEGY
NEW YORK, December 11, 2024 Silvercrest Asset Management Group Inc. (NASDAQ:SAMG) is pleased to announce an initial seed investment of $1.3 billion USD ($2.0 billion AUD) by Australia’s Construction and Building Unions Superannuation Fund (CBUS). The seed investment will formally launch Silvercrest’s Global Value Opportunity Equity Strategy. Silvercrest previously announced the development of the strategy and the hiring of the strategy’s lead portfolio manager, Rehan Chaudhri and his team.
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 $94 billion for over 920,000 members (as of June 30, 2024).
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 $35.1 billion.
Contact:
Richard R. Hough III
Chairman & CEO
212-649-0601
rhough@silvercrestgroup.com
SILVERCREST ASSET MANAGEMENT GROUP INC.
1330 AVENUE OF THE AMERICAS, NEW YORK, NEW YORK 10019 • (212) 649-0600
WWW.SILVERCRESTGROUP.COM