Kaufman Hall acquires $1B RIA firm in Tennessee
The firm provides investment management services to institutions.
Kaufman Hall Investment Management has acquired the assets of Ponder Investment Co., a $1 billion AUM firm that provides investment management services to nonprofit health care, cultural, and other institutions.
The wholly owned subsidiary of Kaufman Hall & Associates will assume control of PIC’s business, which manages high-grade U.S. fixed-income portfolios with a focus on short to intermediate duration as it relates to the investment of bond proceeds, board designated funds and short-term liquidity management.
“I’m delighted to welcome Ponder Investment Co. to the Kaufman Hall family,” said Kate Guelich, managing director and CEO of Kaufman Hall. “Kaufman Hall Investment Management will provide our clients with critical investment management services — adjacent to our existing treasury and capital markets offerings — to help them navigate financial uncertainty and prepare for the future.”
PIC’s Britt Cesarone and David Hiteshew join KHIM as senior vice presidents of portfolio management.
“We are excited by the opportunity to join Kaufman Hall Investment Management,” Cesarone said. “We look forward to working alongside Kaufman Hall’s treasury and capital markets team to meet the ever-changing investment management needs of our clients.”
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