On May 23, 2018, FIS Group announced that it is acquiring Piedmont Investment Advisors, LLC.
Under the terms of the transaction, Piedmont Investment Advisors, LLC (“Piedmont”) will become a wholly owned subsidiary of FIS Group (“FIS”). Their combined assets under management are expected to exceed $10 billion. The transaction is expected to be completed in the third quarter of 2018. Further terms of the transaction were not disclosed.
Piedmont, based in Durham, North Carolina, is an institutional money management firm specializing in active, passive and structured beta equity strategies and core fixed income management. Piedmont has over $4.7 billion in assets under management.
FIS, based in Philadelphia, Pennsylvania, is an institutional investment management firm that specializes in global and non-US strategies. FIS has approximately $5.6 billion in assets under management.
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