HOUSTON, TX (September 10, 2013)—U.S. Capital Advisors LLC ("USCA") today announced they have entered into an agreement to acquire Condera Advisors, a Houston-based boutique advisory firm with a focus on alternative investments. Condera was formed in 2008 when CEO David Solomon and President Phil Pilibosian acquired Redstone Asset Management from the Redstone Companies. At the time David Solomon was serving as Chairman and CEO of the Redstone Companies. The company was renamed Condera Advisors, and the change allowed David, Phil and the team at Condera to further concentrate on providing high-end diligence and portfolio construction using traditional and alternative asset classes for their clients.
USCA and Condera have enjoyed a close working relationship. David Solomon is a member of USCA’s Board of Directors and was a founding investor in USCA.
"The long-term relationship between our two firms should ensure a seamless transition for clients and employees," said Patrick Mendenhall, a USCA managing partner. "Condera’s capabilities will complement USCA’s existing alternative investment and private equity expertise, creating synergies that will add to our clients’ allocation experiences. The acquisition of Condera represents another important step in the build out of our wealth management business," added Mendenhall.
"USCA has built an excellent platform that offers unique alternative investment opportunities and private equity opportunities for its clients, complementing a broad offering of traditional investment capabilities. The combination of Condera with USCA will create a firm with an even more robust and diverse set of investment choices, especially for niche private equity opportunities, a key focus of mine," said David Solomon.
"Our alternative investment capabilities, combined with USCA’s wealth management, equity research and trading, municipal advisory, investment banking, and merchant banking capabilities should provide tangible benefits to the clients of both firms," said Phil Pilibosian.
About U.S. Capital Advisors LLC
Based in Houston, Texas with additional offices in Dallas and Austin, U.S. Capital Advisors is an integrated financial services boutique with primary business lines in Wealth Management, Institutional Client and Investment Banking. The firm provides a full range of advisory services and solutions to high net worth individuals, family offices, institutional and corporate clients. Founded in 2010 and privately owned, USCA is led by seasoned professionals with proven track records in the industry. Securities offered through USCA Securities LLC, member FINRA/SIPC; investment advisory services offered through USCA RIA LLC; and municipal advisory services offered through USCA Municipal Advisors LLC.
Managing Partner, Head of Wealth Management