Easterly will acquire Snow Capital
Combined, the asset managers will have $5 billion in AUM.
Easterly Investment Partners, a Beverly, Massachusetts-based asset management company, has entered into a definitive agreement to acquire an equity interest in Snow Capital Management, a value equity manager based in Sewickley, Pennsylvania.
The transaction, terms of which were not disclosed, is expected to close by July 1.
Snow Capital manages $1.6 billion in assets. When combined, Easterly and Snow entities will manage approximately $5 billion.
[More: David Booth of DFA is taking a value victory lap]
Retirees who saved up aren’t spending down
Learn more about reprints and licensing for this article.