Royce & Associates
acquired Wyper Capital Management
. Financial terms of the deal were not made public.
The merger of the two firms, both Manhattan-based, took effect April 1, Royce managing director Jack Fockler
confirmed to The MFWire
Royce hired George Wyper
, previously with Wyper Capital Management, as portfolio manager and managing director effective April 1. Royce also
brought on board six other Wyper employees, including
, who served as Wyper Capital
Management's chief operating officer.
"We have had a long-term friendship with George and have long admired his small-cap and global investment experience and felt like he would be a great fit for our firm as both an investment professional and business leader," Fockler wrote in e-mailed comments to The MFWire
Other new additions to Royce's investment team
include analysts Dilip Badlani
and Meena Mallipeddi
. The hirings raise the number of investment professionals at Royce to 37.
In addition, Royce hired client service specialist Lisa Hecht
, as well as Elizabeth Winslow
and Kimberly DeLeon
Asked which fund Wyper will be managing, Fockler wrote: "Initially George will only be managing those assets that he brought with him. At some point he may well assume portfolio management responsibility as either a lead or co-manager for a Royce Fund."
"There is no timetable established for when this will take place," Fockler added.
Stay ahead of the news ... Sign up for our email alerts now