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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Prairie Capital Management, LLC
  • UMB Financial Corporation
  • Wealth Management Firms
  • June 30, 2010
  • $4 Billion

Seller Details

Founded in 1995, Prairie Capital Management LLC is an asset management and wealth management consulting firm headquartered in Kansas City, Mo., and is registered with the United States Securities and Exchange Commission ("SEC") as an investment adviser under the Investment Advisers Act of 1940.  Prairie Capital provides an objective, comprehensive and highly customized multi-manager approach to the development, implementation and continued monitoring of a disciplined investment program.  Prairie Capital’s team of highly experienced investment, legal, tax, accounting and business professionals, assists clients in making informed investment decisions. The Company offers a full spectrum of investment consulting services, including asset management & investment consulting, wealth management & family office services and investment management & research.  The firm serves clients in more than 25 states from its four offices in Kansas City, Chicago, Denver and Philadelphia.

Buyer Details

UMB Financial Corporation (NASDAQ: UMBF) is a financial services holding company headquartered in Kansas City, Mo., offering complete banking, asset management, health spending solutions and related financial services to commercial, institutional and personal customers nationwide. Its banking subsidiaries own and operate 135 banking centers throughout Missouri, Illinois, Colorado, Kansas, Oklahoma, Nebraska and Arizona. Subsidiaries of the holding company and the lead bank, UMB Bank, n.a., include mutual fund and alternative investment services groups, single-purpose companies that deal with brokerage services and insurance and a registered investment advisor that manages the company's proprietary mutual funds and investment advisory accounts for institutional customers.

Transaction Summary

UMB Financial Corporation (NASDAQ: UMBF), has signed a definitive agreement for the acquisition of the assets of Prairie Capital Management LLC, (Prairie) an independent asset management and wealth management firm based in Kansas City, Mo.  The transaction is expected to close on July 30, 2010.
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