RS Investments announced that it has entered into an agreement to acquire the business and portfolio management team of Oak Value Capital Management, adviser to the Oak Value Fund
RS Investments (“RS”), a San-Francisco–based investment management firm, issued a press release announcing that it had entered into an agreement with Oak Value Capital Management, Inc. (“Oak Value”) to acquire certain assets and investment management relationships of Oak Hill and for the Oak Hill portfolio management team to join RS. Oak Hill, based in Chapel Hill, North Carolina, has approximately $190 million in assets under management and acts as investment adviser to Oak Value Fund (OAKVX). The transaction is expected to be completed by Fall 2010 and the change of investment adviser for Oak Value Fund is subject to approval of the fund’s shareholders.
To view the press release, please click here.