Old Mutual Asset Management, the U.S.-based global asset management business of Old Mutual plc, has closed the previously announced transactions to sell five of its U.S. affiliates to their respective senior management teams.
The five affiliate asset managers are 2100 Xenon Group, 300 North Capital, Analytic Investors, Ashfield Capital Partners and Larch Lane Advisors. These businesses had combined assets under management of $12 billion as of September 30, 2012. Terms of the five transactions were not disclosed. Old Mutual entered into definitive agreements with the affiliate firms in October.
Old Mutual Asset Management (OMAM), a U.S. unit of London-based Old Mutual plc, is a global multi-boutique investment organization whose affiliated investment firms managed $216.7 billion as of September 30, 2012.
© 2013 RIJ Publishing LLC. All rights reserved.