Sand Hill Advisors bought by Boston firm Sand Hill Advisors bought by Boston firm (June 28, 2000)

**Officers, staff, name stay the same.

Menlo Park-based Sand Hill Advisors Inc., an 18-year-old investment advisory firm, was recently acquired by Boston Private Financial Holdings Inc., a Boston-based firm specializing in financial planning, investment management, private banking, and commercial and residential lending.

Sand Hill Advisors, with offices at 3000 Sand Hill Road, will operate under its own name with existing staff, but as a wholly owned subsidiary of Boston Private, the firm said. The purchase price is estimated at $16 million in cash and Boston Private stock.

Sand Hill manages about $900 million for 180 clients; employs 14 people, including six principals; and has revenues of more than $5 million, the firm said.

Gary Conway will continue as Sand Hill's chief executive officer, and Jane Williams as president. They founded Sand Hill in 1982.

"Affiliation with Boston Private will significantly expand our financial-planning capacity and cash-management service, and will give our clients access to trust and lending services," said Mr. Conway.

Ms. Williams added that Sand Hill is focused on the entrepreneurial element of Silicon Valley with female decision-makers a significant part of its business. "A majority of our senior investment staff are women, and that has proved to be a significant advantage when serving this diverse California marketplace," she said.

In addition to separately managed accounts, Sand Hill manages a no-load mutual fund and plans diversification programs for clients with concentrated stock positions.