On March 30, 2017, Congress Asset Management announced an agreement to acquire the investment management business of Century Capital Management.
The terms of the agreement have not been disclosed. The transaction is subject to customary approvals and closing conditions and is expected to close in the third quarter of 2017.
Congress Asset Management (“Congress”) is a Boston-based investment management firm, offering diversified portfolios for high net worth individuals and institutions through a variety of fixed income and equity investment strategies. As of December 31, 2016, Congress had approximately $8.1 billion enterprise assets.
Century Capital Management (“Century”) is a Boston-based registered investment advisor, providing investment management services for individuals and institutions through separately managed accounts and two mutual funds. Century has approximately $670 million in assets under management.
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