Investment funds affiliated with private equity firms Kelso & Company and Estancia Capital Management have completed the acquisition of American Beacon Advisors, a provider of investment advisory services to institutional and retail markets.
Terms of the agreement were not otherwise disclosed.
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American Beacon president and CEO Gene Needles, Jr. said: "We are excited to begin the next phase of our growth story with Kelso and Estancia as our strategic partners. I want to thank TPG Capital and Pharos Capital Group for their support and guidance over the years. I also want to thank all the individuals involved in making this a seamless process for our clients, shareholders and employees."
Kelso & Company managing director Chris Collins said: "We are delighted to partner with Gene and his team. American Beacon has established itself as a premier asset management platform, and we look forward to supporting the company in its next phase of growth."
Estancia Capital Management partner and managing director Takashi Moriuchi added: "The American Beacon team has built an exceptional investment management firm by partnering with the ‘best of the best’ institutional asset managers globally and creating well-designed, differentiated investment strategies that have delivered outstanding long-term performance to the firm’s clients. We fully support the company’s business approach and continuation of their strategy."
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