is expanding its asset management arm via a partial acquisition.
Today the St. Petersburg, Florida-based broker-dealer's Eagle Asset Management
] unit confirmed the close of its purchase of a 45-percent ownership stake in San Diego, California-based ClariVest Asset Management
, which manages more than $3 billion in client assets and markets its investment services to corporate and public pension plans, foundations, endowments and Taft-Hartley clients worldwide.
Here is the press release:
Company Press Release
EAGLE ASSET MANAGEMENT COMPLETES DEAL WITH CLARIVEST ASSET MANAGEMENT
ST. PETERSBURG, Fla. Ė Eagle Asset Management, Inc. announced today that it has completed the purchase of a 45-percent ownership stake in ClariVest Asset Management LLC, creating a strategic partnership and additional distribution opportunities for ClariVest products.
Eagle replaced the minority interests of several investors, leaving ClariVest managementís ownership shares unchanged.
San Diego-based ClariVest, launched in 2006, manages more than $3 billion in client assets and markets its investment services to corporate and public pension plans, foundations, endowments and Taft-Hartley clients worldwide.
ClariVest offers a range of domestic, international, emerging markets and global products, combining stock selection with advanced risk control techniques to exploit market inefficiencies.
Eagle Asset Management, with more than $21 billion in assets under management, is a subsidiary of Raymond James Financial (NYSE:RJF).
About Eagle Asset Management, Inc.
Eagle Asset Management provides institutional and individual investors with a broad array of equity and fixed income products designed to meet long-term investing goals. The firmís clients currently entrust more than $21 billion* in investment strategies designed to deliver above-average, risk-adjusted returns via both separately managed account and mutual fund platforms.
*As of Sept. 30, 2012 and includes Eagle Asset Management, Inc. and its wholly-owned subsidiaries.
For more information, please contact:
Eagle Asset Management, Inc.
Senior Account Executive
O# (212) 754-5448
M# (612) 232-7881
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