Davidson Investment Advisors to Acquire Caprin Asset Management

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.

“We are pleased to join forces with a firm that has deep experience in fixed-income portfolio management, and are confident that clients will benefit from the breadth and depth of our collective expertise,” said Andrew I. Davidson, President of Davidson Investment Advisors. “Our shared client-first philosophy and culture will serve as a catalyst for continued growth.”

“Caprin shares Davidson Investment Advisors’ commitment to its clients, its communities and its associates,” said Michael Hoover, President of Caprin Asset Management. “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.

About Davidson Investment Advisors

Davidson Investment Advisors, a wholly-owned subsidiary of D.A. 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.

About D.A. Davidson Companies

D.A. Davidson Companies is an employee-owned financial services firm offering a range of financial services and advice to individuals, corporations, institutions and municipalities nationwide. Founded in 1935 with corporate headquarters in Great Falls, Montana, and regional headquarters in Denver, Los Angeles, New York, Omaha and Seattle, the company has approximately 1,525 employees and offices in 28 states.

In addition to Davidson Investment Advisors, its subsidiaries include: D.A. Davidson & Co., the largest full-service investment firm headquartered in the Northwest, providing wealth management, investment banking, equity and fixed income capital markets services, and advice; D.A. Davidson Trust Company, a trust and wealth management company; and Davidson Fixed Income Management, a registered investment adviser providing fixed income portfolio and advisory services.

For more information, visit dadavidson.com.