Advantus Capital Management, an institutional asset manager with $29 billion under management, announced its May 1 acquisition of the client accounts of NorthShore Advisors, an asset management firm with $300 million under management located in Bloomington, MN.
Chris Sebald, president, Advantus Capital Management, said: "This acquisition adds several key local client relationships, including government operating portfolios, and expands our investment strategy expertise. NorthShore is a fundamental investor, and their philosophy is very well aligned with Advantus."
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Jane Wyatt, CFA, one of NorthShore’s principals, will join Advantus as a client portfolio manager. She will continue to manage client relationships as well as contribute to the overall fixed income strategy approach at Advantus.
Wyatt said: "Advantus provides a great cultural fit for NorthShore’s clients. I will be able to deliver a broader set of capabilities while knowing my clients will continue to receive the excellent service they’ve come to expect."
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