North Square Investments, a multi-boutique investment firm based in Illinois, has agreed to buy a majority stake in Pennsylvania-based institutional investment management firm C.S. McKee.
Financial details regarding the transaction were not disclosed.
Go deeper with GlobalData
C.S. McKee will retain its operational independence after the deal completion, which is anticipated in the first quarter of this year.
C.S. McKee president Mark Gensheimer said: “This transaction allows us to realise our strategic objective of finding a partner who is equally committed to better serving our constituents by expanding product development and availability of our portfolios through new distribution channels as well as continued growth and diversification of the business.”
Equity ownership will be extended to all McKee staff as part of the transaction.
North Square Investments co-founder and CEO Mark Goodwin said: “McKee is renowned as a high quality fixed-income leader across a spectrum of strategies.
“The team has built a very strong and diverse foundation for their business, and we’re excited to partner with them to add resources and capabilities to help foster future growth through both institutional and retail distribution channels.”
Established in 1931, C.S. McKee specialises in fixed-income and equity strategies. The investment management firm oversees more than $8bn in assets and caters to a diverse clientele including pension funds, profit-sharing plans, and reserve funds.
