Silvercrest buys Marathon Capital Group

Silvercrest Asset Management Group LLC said it has acquired Marathon Capital Group, a Boston investment advisor that oversees $600 million, primarily on behalf of high-net-worth families.

Financial terms of the acquisition are not being disclosed, Silvercrest said, and the combined firm will have nearly $10 billion in assets under advisement, said Silvercrest, which is headquartered in New York and which, as a result of the acquisition, will now have an office in Boston.

G. Moffett Cochran, cofounder and chief executive of Silvercrest, said in a statement, “This strategic acquisition of one of Boston’s leading wealth management boutiques enables us to strengthen Silvercrest’s presence in the important New England market.”
(By Chris Reidy, Globe staff)