Salem Partners Private Wealth

Salem Partners Private Wealth

Salem Partners Private Wealth was established in 1997 by John Dyett and Stephen Prough. The co-founders built the firm on their prior experience in investment banking and wealth management. It serves affluent entrepreneurial families with services that include portfolio construction, tax planning, estate planning, and direct investments. The firm allocates across real estate, private credit, and venture-style healthcare positions. Asset-class exposure includes direct ownership of mixed-use towers such as Mandarin Oriental Honolulu valued at $1.6 billion and 1500 Kapiolani valued at $750 million. It also maintains a programmatic joint venture with Grand Peaks Properties targeting multifamily assets in Denver, Miami, Dallas, Portland, and Seattle. Additional holdings include senior loans to Urban Mining Company and Eisenhower Property Group plus equity positions in OncoNano Medicine, Renibus Therapeutics, and Critical Mass Studios. Geographic reach centers on the United States with concentration in Hawaii and California. The firm employs direct co-investment structures and maintains a foundation, the Berti Prough Family Foundation, focused on education, health, and social services. Stephen Prough serves as Co-Chairman of the LA Promise Fund and on the Professional Advisory Committee of the Motion Picture and Television Fund. No operational events from the last 24 months appear in public records. The firm’s structure centers on co-founder oversight of both advisory relationships and proprietary direct deals. This integrates client mandates with the principals’ own balance-sheet activity in real estate and life-science assets, creating a hybrid model that differs from pure advisory multi-family offices.