On March 2, 2016, 50 South Capital Advisors, LLC announced that will acquire the investment management business of Aurora Investment Management LLC.
Financial terms of the deal were not disclosed. After the transaction is completed, Aurora Investment Management LLC (“Aurora”) CEO Roxanne Martino, President Scott Schweighauser and Managing Director of Operations Anne Marie Morley will act as Senior Advisors to the combined firm. Other senior Aurora investment professionals will join the team at 50 South Capital Advisors, LLC (“50 South”), as well.
The transaction is subject to customary closing conditions. It is expected to close in the third quarter of 2016.
50 South is a wholly owned subsidiary of Northern Trust Corporation. It is an asset management firm with approximately $3.3 billion in assets under management and approximately $1.4 assets under advisement as of December 31, 2015.
Aurora was founded in 1998 and is a wholly owned subsidiary of Natixis Global Asset Management S.A. It ranks as one of the world’s largest asset managers.
To read the press release, please click here.