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The Honolulu Advertiser

Posted at 4:10 p.m., Thursday, December 14, 2006

Cadinha agrees to buy back control of investment firm

Advertiser Staff

Longtime Honolulu money manager Harlan J. Cadinha has reached an agreement to buy back control of his Cadinha & Co. from Chicago-based Convergent Capital Management LLC in a transaction set to close by the end of the year.

Cadinha, currently chief investment strategist for the firm managing more than $500 million in assets, said he will become chairman and chief executive officer once the transaction closes. He said the 20-person firm may seek a broader spectrum of clients under his ownership.

Convergent had amassed a controlling stake in the company beginning seven years ago and recently reached a mutual decision with Cadinha to relinquish its stake, Cadinha said.