Fiduciary Trust to Acquire Athena Capital Advisors

February 10, 2020

On January 7, 2020, Fiduciary Trust Company International announced that it had entered into an agreement to acquire Athena Capital Advisers, LLC.

Pursuant to the agreement, Fiduciary Trust Company International (“Fiduciary Trust”) will acquire Athena Capital Advisers, LLC (“Athena”) in a merger transaction. The deal is expected to close in the second quarter of 2020 and is subject to customary closing conditions. Terms of the deal were not disclosed.

Athena is a Massachusetts-based, privately owned registered investment advisor. It has approximately $6 billion in assets under management. Raymond James Financial Services Inc. served as financial advisor to Athena in the transaction.

Fiduciary Trust is a global wealth management firm that specializes in investment management, strategic wealth planning and tax and custody services. It is a wholly-owned subsidiary of Franklin Resources, Inc. (NYSE: BEN). As of September 30, 2019, it had approximately $75 billion in assets under management and administration.

To read the press release: please click here.


Categories

Investment Manager M&A, Transactions