French asset management firm to buy Litman Gregory
iM Global Partner intends to enhance its U.S. distribution capabilities with the acquisition of the California wealth and asset management firm.
iM Global Partner, a Paris, France-based owner of asset management firms internationally that currently manages about $20 billion, has entered into an agreement to acquire Litman Gregory, a Walnut Creek, California-based wealth and asset management firm that manages and oversees $6.2 billion in assets.
Founded in 1987, Litman Gregory has developed a range of mutual funds in addition to managing wealth for individuals and nonprofit organizations.
The acquisition is intended to enhance iM Global’s distribution capabilities in the U.S., the company said in a release.
[More: Mutual fund assets continue to decline in 2020]
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