The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Four Big Fund Firms Wrap Up Deals Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, October 8, 2021

Four Big Fund Firms Wrap Up Deals

Reported by Neil Anderson, Managing Editor

Several big mutual fund firms recently wrapped up acquisitions.

Jerome L. "Jerry" Dodson
Parnassus Investments
On Monday, the Affiliated Managers Group (AMG) group team confirmed that their planned purchase of a majority stake in Parnassus Investments has closed. The deal was first unveiled back in July. San Francisco-based Parnassus had $49 billion in AUM as of September 30; as of June 30, West Palm Beach, Florida-based AMG's aggregate AUM was about $756 billion.

Last week, George Aylward, president and CEO of Virtus Investment Partners, Inc., confirmed that Virtus completed its planned purchase of Westchester Capital Management on October 1. The deal was unveiled back in February. Valhalla, New York-based Westerchester had $5 billion in AUM as of June 30; Hartford, Connecticut-based Virtus had $183.3 billion in AUM as of August 31.

Also last week, Joe Machi director of alliances at Federated Hermes, Inc., confirmed that Federated has acquired nine Hancock Horizon funds, merging them into six existing funds and creating one new fund. The deal was unveiled back in April. The nine Hancock Horizon funds had $562 million in AUM as of September 24, and Pittsburgh-based Federated had $645.8 billion in AUM as of June 30.

Also last week, Tom Rampulla, managing director of financial advisor services at Vanguard, confirmed that Vanguard has completed its purchase of Just Invest, in the wake of a 1.5-year pilot direct indexing Vanguard program that's powered by Just Invest. That deal was unveiled back in July. 

Stay ahead of the news ... Sign up for our email alerts now

 Do You Recommend This Story?

Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Add to My Yahoo!
follow us in feedly

©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use