Knights of Columbus Asset Advisors (KoCAA) has acquired the institutional management business of Boston Advisors for an undisclosed figure.
The two parties had been working together for eight years, with Boston Advisors serving as KoCAA’s investment advisor since 2011 and its sub-adviser since 2015.
Boston Advisors will now serve as an investment unit of KoCAA. At the same time, Boston Advisors will continue to follow its modelling and quantitative research to offer portfolios prioritising risk management.
Earlier, KoCAA held an ownership stake of 18.8% in Boston Advisors, which presently oversees around $2.37bn in assets.
Boston Advisors president Peter Anderson said: “Boston Advisors was able to leverage its deep expertise in institutional investing over the last 30 years to grow an exceptional portfolio of corporate and public retirement/pension plans, endowments, foundations, charitable organisations and sub-advisory clients.
“We are proud of the business our team has built, as well as the work done as KoCAA’s sub adviser for the last eight years, and are confident it will continue to flourish as a division of KoCAA.”
Headquartered in New Haven, KoCAA is owned by Catholic fraternal service organisation Knights of Columbus. At present, KoCAA manages over $24bn in assets.
Commenting on the latest deal, KoCAA president and CIO Tony Minopoli said: “The Boston Advisors business model aligns with our objective of providing clients with investment capabilities across several equity strategies.”