On October 22, 2012, Eagle Asset Management announced that it had agreed to acquire a 45% interest in ClariVest Asset Management, a quantitative equity manager.
On October 22, 2012, Eagle Asset Management announced that it had entered into a definitive agreement to purchase a 45% minority stake in ClariVest Asset Management, a San Diego-based quantitative equity manager. ClariVest manages approximately $3 billion in client assets. Eagle Asset Management, a subsidiary of Raymond James Financial (NYSE:RJF), has approximately $20 billion in assets under management from institutional mutual fund and high net worth clients. The stake is being acquired from private equity firm Lovell Minnick Partners and other minority investors. The transaction, the terms of which were not disclosed, is expected to close by the end of 2012.
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