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Davidson Adds To Its Fixed-Income Capabilities

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Davidson Fixed Income Management (DFIM) has acquired SeaCap Investment Advisors, a fixed-income portfolio manager for institutional and individual clients. DFIM is part of Davidson Companies, the financial services holding company that is the parent of D.A. Davidson & Co., a broker-dealer.

Company officials said the acquisition is expected to generate multiple benefits.

“Both firms complement each other, and it really provides much greater depth for both sides of the business,” Scott Prickett, senior vice president and managing director for DFIM, told On Wall Street.

As for SeaCap, managing partner Laurie Nichols said that SeaCap has had an established relationship with D.A. Davidson & Co. “We’re pleased to now be part of the Davidson family,” she said. “We’re looking at ways to offer more information about SeaCap’s offerings to Davidson clients.”

With the acquisition of SeaCap, which manages about $870 million for its clients, DFIM will manage over $6 billion in client assets. SeaCap will retain its name; the stated goal is to allow both groups to capitalize on SeaCap’s reputation among institutional and individual investors.

SeaCap works with high-net-worth investors and their professional advisors, both in taxable and tax-exempt securities. “Joining DFIM allows us to build upon SeaCap’s growth and successes while remaining focused on the value that we bring to our clients by focusing solely on fixed income,” said Nichols.

DFIM is a registered investment adviser offering customized fixed-income services. “This transaction brings together two teams that share a deep commitment to exceptional service in personalized client relationships,” said Prickett. “We look forward to our next phase of growth together and to the synergies that result from combining our companies.”

DFIM provides fixed income management and structured investment services, primarily for institutional clients and nonprofit entities. In addition, DFIM provides sub-advisory services to the Aquila Tax-Free Fund of Colorado and the Tax-Free Trust of Oregon.

The Davidson Companies are based in Great Falls, Mont.; SeaCap is in Seattle.

Donald Jay Korn writes for On Wall Street.





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