Ashfield Capital Partners has cut the cord.

The sub-advisor of the Touchstone Capital Growth Fund has completed its previously announced severance from Old Mutual.

In total, Old Mutual is selling off five affiliates, including the newly-independent Ashfield. The other shops are Larch Lane Advisors, 2100 Xenon Group, 300 North Capital, and Analytic Investors.

In total, these five businesses had $11.7 billion in assets under management, according to Old Mutual.

Here is the press release:

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Company Press Release

Ashfield Capital Partners LLC Closes Deal With Old Mutual Asset Management

- Firm is now employee owned -

SAN FRANCISCO, Jan. 2, 2013 -- The principals of Ashfield Capital Partners LLC (Ashfield) announced today that they have completed the previously announced transaction to purchase their existing business from Old Mutual Asset Management. The deal, announced in October, transforms Ashfield into an independent, employee-owned investment firm.

"With the close of this transaction, our firm is now employee owned," said Stephen Lauck, Ashfield's President & CEO. "We want to thank Old Mutual for its tremendous support throughout the years and we look forward to their continued interest as we implement our growth plans as an independent firm."

About Ashfield Capital Partners LLC

Ashfield Capital Partners, LLC, based in San Francisco, CA, offers portfolios that seek high-quality growth companies for domestic and international corporate retirement plans, public funds, multiemployer pension plans, endowments, foundations and private investors. Its predecessor company was founded in 1973 and was reorganized in 2007 when Old Mutual (US) Holdings Inc. purchased a majority interest in the firm. See www.ashfield.com for more information.

SOURCE Ashfield Capital Partners LLC

 

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