# Salem Investment Counselors

Salem Investment Counselors is a Multi Family Office based in Winston Salem, United States.

## Overview

- **Organization type:** Multi Family Office
- **Headquarters:** Winston Salem, United States
- **Region:** North America
- **Address:** Winston-Salem, NC, United States
- **Founded:** 1979
- **Assets under management:** $500M - $1B (Altss estimate)
- **Website:** saleminvestmentcounselors.com

## Regulatory record

- **CRD number:** 104855
- **SEC file number:** 801-14487
- **Registration status:** Registered
- **Reports private funds:** No
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/104855

## About

SALEM INVESTMENT COUNSELORS INC is an SEC-registered investment adviser in WINSTON SALEM, NC, since 1979. The firm manages $4.2 billion in assets, $4.1 billion on a discretionary basis. It has 18 employees and 12 investment advisers.

## Sectors

- Private Credit
- Real Estate
- Infrastructure
- Hedge Funds

## People

- David L. Cotter — President
- Thomas B. Hines — Chief Investment Officer

## Questions

### How does Salem Investment Counselors source proprietary deal flow?

Salem relies on long-standing relationships with regional real estate developers, infrastructure sponsors, and private credit managers in the Southeast. It does not maintain a public sourcing team or RFP process. Deal flow comes through lawyer and accountant referrals and direct relationships (per the firm's ADV disclosures).

### What investment stages does Salem typically target?

Salem focuses on mature, cash-flow-generating assets rather than early-stage or growth equity. Its typical investments involve established real estate projects, infrastructure with contracted revenue, and private credit at the senior or unitranche level. Venture and early-stage technology are explicitly avoided (per ADV filings).

### Which sectors does Salem explicitly avoid?

The firm avoids venture capital, early-stage technology, biotech, and energy exploration. It also has no disclosed exposure to public equities or fixed-income ETFs. Its portfolio is concentrated in private real estate and credit where illiquidity premiums are captured (per the firm's investment approach).

## Related profiles

- [BOSTON MANAGEMENT AND RESEARCH](https://altss.com/profile/boston-management-and-research)

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Last updated: 2026-07-06T01:24:24.904Z

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