John Drahzal and his team have wrapped up their planned acquisition of a 19-year-old, $564..5-million-AUM, active equity fund firm. The deal brings the 30-year-old, Tar Heel State acquirer to the Big Apple.

John Noel Drahzal Horizon Invesmtents, LLC President, CEO

On Tuesday (April 22), Drahzal, president and CEO of Horizon Investments, LLC [profile], and Scott Ladner, chief investment officer, confirmed that Charlotte, North Carolina-based Horizon has closed on its purchase of a majority of the assets of New York City-based Centre Asset Management. A spokesperson for Horizon confirms that the deal, which was unveiled back in November, closed on April 17.

As expected, the Horizon-Centre deal brings Centre founder and CIO James Abate on board at Horizon and brings Horizon its first Gotham office. A spokesperson for Horizon confirms that the acquirer also adopted Centre's two mutual funds, the 14-year-old Centre American Select Equity Fund and the 7-year-old Centre Global Infrastructure Fund. (Ladner and Drahzal confirmed last fall that Abate would continue to PM both funds after the deal closed.)

Horizon now has a team of 75 employees in total, and as of December 31, 2024 the firm had AUMA of $9.11 billion. The ETF strategist offers 11 muutual funds and 2 ETFs, as well as more than 25 model portfolios and a customizable SMA offering, the Horizon spokesperson confirms.

Drahzal describes Centre as "a compelling addition" to Horizon.

"The insights and approaches that James Abate, who led Centre, and his colleagues now add to our arsenal come at a pivotal time in navigating these challenging markets," Drahzal states.

"James and his team recognize the critical role exceptional certainty plays in supporting our clients' goals," Ladner states.

"I am thrilled that we are now part of the Horizon family and believe now, perhaps more than ever, that our differentiated approach to fundamental security selection, is well positioned to play a major role in the construction and management of resilient and differentiated portfolios," Abate states.

Looking ahead, watch for the Horizon time to further expand their product lineup later this year.

"Earlier this year we expanded into the actively growing ETF space earlier this year with two new products, which marked a big milestone for the firm. These new offerings were the first in a planned family of solutions designed to complement and diversify our existing goals-based offering and enhance our ability to support financial advisors in delivering tailored, outcome- focused solutions to their clients," a spokesperson for Horizon writes to MFWire. "We plan to significantly expand our ETF offering in the second half of 2025."

And perhaps the Horizon team will make more acquisitions, too.

"Horizon remains open to strategic growth opportunities," the spokesperson for Horizon writes. "While we aren't disclosing specific targets, we continue to evaluate opportunities that align with our core strengths and long-term vision."

Meanwhile, the Centre brand may not be disappearing just yet.

"While Horizon will be the primary brand, the Centre name has strong recognition and may continue to complement select offerings or communications," the spokesperson for Horizon writes. "We're thoughtfully exploring ways to preserve its equity in a way that supports continuity and enhances the client experience." 

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