Raymond James to take full ownership of ClariVest Asset Management
ST. PETERSBURG, Fla. – Raymond James Financial announced today that it has reached an agreement to increase its stake in ClariVest Asset Management from 45% to 100% ownership effective in April 2019.
“Adding to our asset management suite of capabilities is consistent with the firm’s long-standing strategy of prioritizing organic growth and targeted acquisitions to thoughtfully expand Raymond James’ position in the industry,” said Chairman and CEO Paul Reilly. “ClariVest has been an important partner for several years and we’re excited to continue leveraging the team’s impressive expertise and investment services.”
Raymond James made its initial investment in ClariVest, which has $7.3 billion1 in assets under management, in 2012, gaining access to its broad investment services that include mutual funds and other pooled vehicles, corporate and public pensions, foundations and multiemployer defined benefit plans. It employs a broad range of equities strategies including U.S. large and small cap, international and emerging markets equities.
ClariVest will become a wholly-owned subsidiary of Eagle Asset Management, a subsidiary of the firm’s global multi-boutique asset management firm Carillon Tower Advisers, which together with its subsidiaries and affiliates has $64.6 billion1 in assets under management and advisement. Cougar Global Investments, Scout Investments and Reams Asset Management are other affiliates acquired in recent years to supplement the asset management division’s offerings under Carillon Tower Advisers.
1As of January 31, 2019. Carillon Tower Advisers includes assets managed and advised for affiliates.
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 7,800 financial advisors throughout the United States, Canada and overseas. Total client assets are $765 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com.
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