Wells Fargo Asset Management (WFAM) is to acquire Analytic Investors, an investment firm with USD15 billion in assets under management.
“This transaction brings Analytic’s well-regarded and innovative quantitative investment team together with WFAM’s fundamentally research-based investment capabilities and deep institutional investor relationships,” says Kristi Mitchem, CEO of Wells Fargo Asset Management. “We are delighted to add Analytic’s expertise in factor-based, risk controlled solutions, providing more components to build comprehensive investment solutions for our clients.”
Established in 1970, Analytic offers a variety of quantitatively-based equity investment solutions, including risk reduction, relative benchmark, and absolute return strategies. Analytic is headquartered in Los Angeles with institutional clients located around the world.
“We are excited to become part of a leading global asset management firm connected with one of the strongest and best regarded financial companies in the world,” says Harin de Silva, president of Analytic. “Wells Fargo Asset Management has a long history of allowing acquired firms full independence and control of their investment process. The two organisations also align well in their shared culture of placing clients at the centre of everything we do.”
The transaction is expected to close by 1 October 2016. Financial terms of the agreement have not been disclosed.
With the completion of the acquisition, Analytic’s investment management team will join WFAM and will continue to operate from Los Angeles.
Wells Fargo Securities served as exclusive financial adviser to Wells Fargo Asset Management in connection with the transaction, with Sullivan & Cromwell serving as legal counsel.
