Oak Ridge Investments
is striking out on its own.
Earlier this week the Chicago-based $4.2 billion firm repurchased the 49 percent stake Boston-based Pioneer Investments
held in Oakridge, P&I reports
The two Pioneer funds that Oak Ridge sub-advises, the Pioneer Oak Ridge Small Cap Growth Fund
and the Pioneer Oak Ridge Large Cap Growth Fund
, will be rebranded under Oak Ridge's name, though the PM will remain the same. Those funds grew to $2.2 billion from $24 million at the beginning of the partnership in 2005.
, founder and CEO of Oak Ridge, said he plans to continue to expand Oak Ridge's product lineup and that the partnership with Pioneer will help in terms of distribution.
Pioneer, a $249 billion firm that's headed by CEO Sandro Pierri
, has also been growing organically and plans to continue to do so by adding new products and staff.
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