Fiduciary Trust Company International, a unit of Franklin Templeton, has concluded its takeover of Athena Capital Advisors.
Financial terms of the transaction, announced in January this year, were not revealed.
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The deal adds around $6bn in assets to the acquirer’s books, lifting its assets to nearly $25bn.
With operations in Massachusetts and New York, Athena Capital focuses on impact investing.
Its offering includes risk management, quantitative investment management, family office services as well as outsourced chief investment officer (OCIO) service.
The business was set up in 1993 by Lisette Cooper, who has now become the vice-chairman of Fiduciary Trust Company International.
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By GlobalData“Merging our firms, expertise, and service offerings will unlock additional value for our clients,” Cooper noted.
Through the deal, the acquirer aims to diversify its wealth and investment management solutions to better serve the affluent.
Fiduciary Trust Company International CEO John Dowd said: “Lisette and her team have been pioneers in the fields of impact investing and quantitative investment management, and the due diligence, investment research, and manager selection methodologies they have developed in these areas will strengthen the advisory services we provide across our organisation.”
Fiduciary Trust Company International offers wealth planning, investment management, trust and estate services, along with tax and custody services for individuals, families, endowments and foundations.
