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Rating:A $4.4B Asset Manager's Employees Buy the Rest of Their Forest Back Not Rated 0.0 Email Routing List Email & Route  Print Print
Thursday, October 23, 2014

A $4.4B Asset Manager's Employees Buy the Rest of Their Forest Back

Reported by Neil Anderson, Managing Editor

A $4.4-billion asset manager Chicago is now 100-percent owned by its own employees.

This spring news broke that the team at Chicago-based Oak Ridge Investments would be buying back the 49-percent stake owned by multinational Pioneer Investments. Then the deal closed, on Friday, and reorganized two Oak Ridge-subadvised Pioneer mutual funds as new Oak Ridge-advised mutual funds.

"In our 25th year, returning to 100% employee ownership recognizes the on-going success of our franchise and positively impacts our ability to expand our investment strategy offering ..." states David Klaskin, founder, CEO and chief investment officer of Oak Ridge. "The independence and energy from becoming 100% employee owned has added tremendous momentum to our professional culture." [See MFWire's living timeline of the Pioneer auction for more details and history.]  

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