Baird, an employee-owned, wealth management, capital markets, private equity and asset management firm, has agreed to purchase Chautauqua Capital Management, an investment manager in Colorado, for an undisclosed sum.
The acquisition will allow Chautauqua Capital to focus exclusively on the performance of their time-tested global and international investment strategies.
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Additionally, Baird will provide back office services and support for Chautauqua Capital clients as part of the deal.
The deal will see Chautauqua Capital’s investment team joining Baird as equity owners in the business. The transaction is expected to complete in early 2016.
Following the acquisition, Chautauqua Capital will operate under the Chautauqua Capital Management name and will become a subsidiary of Baird Investment Management, Baird’s institutional equity asset management business.
Led by CIO Brian Beitner, Chautauqua Capital manages high quality, growth-oriented international and global equity portfolios for institutional investor and currently offers offer two strategies namely International Growth and Global Growth.
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By GlobalDataBaird chairman & CEO Paul Purcell said: "A strategic priority for Baird has been adding global and international capabilities to our Asset Management business."
"With the increasingly complex nature of various back office, support and oversight functions, our joining Baird enables us to focus 100 percent of our attention on providing superior returns in our international and global strategies," said Brian Beitner.
Baird Investment Management managing director Reik Read said: "Given Chautauqua Capital’s compelling long-term investment track record of risk adjusted returns and Baird’s back-office capabilities and experience, we see an exceptional opportunity for both Chautauqua Capital and Baird clients."
Founded in 1919, Baird has $152bn in client assets and over 3,200 associates serving the needs of individual, corporate, institutional and municipal clients.
