On January 12, 2018, Hennessy Advisors, Inc. announced the completion of its acquisition of the management related assets of three equity funds of Rainier Investment Management, LLC.
Hennessy Advisors, Inc. (“Hennessy”) previously completed the acquisition of Rainier Investment Management, LLC’s (“Rainier”) Rainier Large-Cap Equity Fund (“Rainier Large-Cap”) and Rainier Mid-Cap Equity Fund (“Rainier Mid-Cap”) in December 1, 2017. Rainer Small/Mid-Cap Equity Fund (“Rainier S/M-Cap”) is the last of the three acquisitions and will be reorganized into Hennessy Cornerstone Mid Cap 30 Fund (the “HC Mid-Cap Fund”). Rainier Mid-Cap and Rainier Large-Cap previously reorganized into HC Mid-Cap Fund and Hennessy Cornerstone Large Growth Fund, respectively, on December 1, 2017.
Hennessy is a Novato-based publicly traded investment advisory firm specializing in mutual funds and domestic equity. Hennessy currently has approximately $7.3 billion in assets under management.
Rainier is a Seattle-based investment firm, affiliated with Manning & Napier Advisors, specializing in growth investments and portfolio management. Rainier Large-Cap, Rainier Mid-Cap, and Rainier S/M-Cap collectively represent approximately $375 million in assets under management.
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