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

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

Rating:ABN AMRO Sells U.S. Mutual Fund Biz For $38.6M Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, April 21, 2006

ABN AMRO Sells U.S. Mutual Fund Biz For $38.6M

by: Armie Margaret Lee

The M&A action continues. ABN AMRO Asset Management Holdings said Friday it has agreed to sell its U.S. mutual fund business to Highbury Financial Inc. for $38.6 million.

The deal, which is expected to close in the second half of the year, covers 19 mutual funds with $6 billion of assets under management.

The transaction will enable ABN AMRO Asset Management to step up its focus on the institutional market, which represents over $35 billion of core business in the U.S.

"This is an excellent opportunity to place even greater focus on the institutional side of the business," said Nancy Holland, interim chief executive and president of ABN AMRO Asset Management, in a news release.

Denver-based Highbury was formed last July to acquire financial services businesses and raised $48.8 million in an initial public offering in January.

Richard Foote, president and chief executive of Highbury, called the deal "an ideal transaction for our initial business combination, as it will provide a solid foundation from which to build a platform of affiliated asset management businesses."

Under the deal, a newly created limited newly created limited liability company, Aston Asset Management LLC, will act was the advisor to the funds, which will be rebranded The Aston Funds.

Stuart Bilton, Kenneth Anderson and Gerald Dillenburg, who currently manage the business for ABN AMRO, will lead Aston when the transaction closes. Highbury will be the managing member and majority owner of Aston.

Aston plans to enter into sub-advisory agreements with the current ABN AMRO advisory firms for the continued management of the funds and expects to retain the current sales force which includes 18 wholesalers, according to the release.

The funds are currently advised by several of ABN AMRO Asset Management's affiliates, including ABN AMRO Asset Management Inc., Montag & Caldwell Inc., TAMRO Capital Partners LLC, Veredus Asset Management LLC and River Road Asset Management LLC.

Highbury said it will continue to "develop acquisition opportunities and will seek to establish other accretive partnerships with high quality investment management firms over time."  

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

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2025: Q3Q2Q1
2024: Q4Q3Q2Q1
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:
Raw XML
Add to My Yahoo!
follow us in feedly


    Sorry, no records in the database matched your search parameters. Clich back and try again.



  1. MFDF Director Discussion Series - Open Forum, July 9
  2. MFDF webinar - Mid-Year Tax Update for Registered Investment Companies, July 10
  3. MFDF Director Discussion Series - Open Forum (Philadelphia), July 15
  4. 2025 MMI Women in Advisory Solutions Forum, Jul 15-16
  5. Nicsa webinar - How Trusted GenAI is Transforming Data Access in Asset Management, July 16
  6. MFDF webinar - M&A and Consolidation in Asset Management, July 16
  7. MFDF webinar - ETF Conversions, July 17
  8. MFDF Director Discussion Series - Open Forum (New York), July 22
  9. MFDF Ask Anything webinar - AI Edition, July 24
  10. MFDF webinar - Use of Derivatives by RICs, July 29
  11. MFDF Director Discussion Series - Open Forum (Columbus, Ohio), August 20
  12. Samfund Soiree Boston 2025, August 21
  13. MFDF webinar - The Audit Committee Chair's Guide to Balancing Duties and Emerging Issues, September 3
  14. ICI ETF Conference, Sep 8-10
  15. Nicsa webinar - Reimagining Reconciliation: AI, Regulation, and Capital Markets Transformation, September 10
  16. MFDF webinar - Series Trust Funds - Compliance and Board Reporting, September 10
  17. MFDF In Focus - Board Oversight of DEI in Current Landscape, September 11
  18. MFDF webinar - MFDF 15(c) White Paper Webinar Series: Part 4 – Enforcement Action Takeaways, September 16
  19. MFDF webinar - Latest in Closed-End Funds Litigations, September 23
  20. MFDF webinar - Fixed Income Insights: Navigating Market Trends & Opportunities, September 24
  21. MFDF webinar - Risk Management Essentials for RICs and Boards, September 29
  22. MFDF webinar - Diligent - Tools for Fund Board Book, October 1
  23. 10th annual Fuse Forum, October 8
  24. MFDF webinar - Essential Strategies in Board Oversight of Operational Risk Management, October 14
  25. 2025 MMI Annual Conference, Oct 15-17
  26. MFDF webinar - Series Trust Funds - Effective Board Relationships with Advisers, October 15




©All rights reserved to InvestmentWires, Inc. 1997-2025
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use