Emerald Asset Management, a US-based investment management firm with about $3bn in assets under management, has entered into an agreement to acquire the assets and combine the management team of Elessar Investment Management.
Following the acquisition, Elessar team will join Emerald’s subsidiary Emerald Advisers and will be based in Cleveland.
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The deal is anticipated to close in the first quarter of this year.
As part of the deal, Elessar president and founder Rick Giesen will join Emerald alongside Elessar co-portfolio manager Ori Elan and compliance and operations specialist Mitch Krahe, Esq.
Founded in 2005, Elessar offers service for individual and institutional investors interested in small-to-midcap domestic equity investments.
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