IronBridge Capital Management
, an Illinois-based asset management firm, will merge with RMB Capital
, a Chicago-based independent financial services firm. The deal is expected to close at the end of this month.
| Chris Faber|
Founder and president
IronBridge currently has around $1.7 billion in AUM, which will be added to RMBís $6.7 billion in AUM. All of IronBridge's 35 employees are expected to move over to RMB, according to Kate Demet, a spokesperson for RMB. Chris Faber
, founder and president of IronBridge, along with the rest of the firmís senior members and investment team, will continue to manage their products and strategies.
RMB will act as interim investment advisor for all of IronBridge's mutual funds. The Board of Directors for the IronBridge Funds, which includes Walter Clark
the COO of RMB, voted for this change unanimously. Shareholders will vote on it at a meeting in July.
This move didnít come out of nowhere Demet tells MFWire
. She says senior members of the two firms have known each other for years.
"Both sides are very excited about it, we really see it as a win-win. Our expertise will add a lot of value to their end investors," Demet says.
ďThis is a great move for our team and our clients," Faber states
, echoing Demet. "It offers an opportunity to reinvigorate growth while maintaining continuity in our investment process and team," he goes on.
The IronBridge team will continue to work out of their offices in Oakbrook Terrace, Illinois and RMB will stay in their downtown Chicago offices.
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