Asset Management
Old Mutual Asset Management Completes Sale Of Five US Affiliates
Old Mutual Asset Management, the US-based asset management business of Old Mutual, has closed the previously-announced transactions to sell five of its US affiliates to their respective senior management teams.
The five affiliate asset managers are: 2100 Xenon Group, a Chicago, IL-based alternative asset manager; Pasadena, CA-based 300 North Capital, an institutional investment manager; Analytic Investors, an investment manager serving institutional and retail clients; San Francisco, CA-based Ashfield Capital Partners, which offers portfolios to a range of clients including private investors; and Larch Lane Advisors, the early stage hedge fund investing and seeding firm.
The businesses had combined assets under management of $12 billion as at end-September, 2012. Terms of the transactions were not disclosed.