The Compass Efficient Model Portfolios
brand will survive, and the Victory Capital Management
] team will continue to hunt.
Yesterday Cleveland, Ohio-based Victory unveiled
a deal to buy Brentwood, Tennessee-based Compass EMP . Jim FitzGerald
, vice chairman of Victory and former president of Munder (which Victory just bought) confirms that Munder and its Integrity arm, Compass EMP will keep its own brand within Victory.
"We think it's going to be a terrific partnership ... The entire investment team will be staying on," FitzGerald tells MFWire
, adding that Compass EMP founders Stephen Hammers
and David Moore
will also stay on. The status of the rest of Compass EMP's team, FitzGerald says, is still to-be-determined.
Victory, formerly part of the bank KeyCorp, spun out almost two years ago with help from private equity shop Crestview Partners
. Crestview also backed Munder, and a month ago Victory closed on its purchase of Munder.
"It's been a very busy couple of years," FitzGerald says.
that doing deals is "a big part" of his mandate at Victory.
"It's always going to be an important part of our growth strategy. We're always on the look out," FitzGerald says. "First and foremost, it's about investment talent and investment excellence."
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