Wells Fargo Asset Management (WFAM) has agreed to buy Los Angeles-based Analytic Investors for an undisclosed sum. The deal will add $15bn in assets to WFAM’s portfolio.
Following the completion of the deal, which is expected by 1 October 2016, Analytic’s investment management team will join WFAM and will continue to operate from the firm’s Los Angeles base.
Founded in 1970, Analytic offers a range of quantitatively-based equity investment solutions such as risk reduction, relative benchmark, and absolute return strategies.
WFAM CEO Kristi Mitchem said: “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.
“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.”
Analytic president Harin de Silva said: “Wells Fargo Asset Management has a long history of allowing acquired firms full independence and control of their investment process. The two organizations also align well in their shared culture of placing clients at the center of everything we do.”