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Rating:What a $64B Multi-Boutique's Chief Looks For Not Rated 5.0 Email Routing List Email & Route  Print Print
Monday, March 19, 2018

What a $64B Multi-Boutique's Chief Looks For

Reported by Neil Anderson, Managing Editor

As Carillon Tower Advisers [profile] digests its most recent acquisition, watch for more M&A and targeted distribution expansion at the multi-boutique asset manager.

"We're building out our multi-channel, multi-boutique business model," Cooper Abbott, chairman and president of Carillon Tower, tells MFWire. "We are certainly open [to more acquisitions], but finding that right partner is the key to success."

Carillon Tower, the multi-boutique asset management arm of Raymond James, now includes five boutiques: ClariVest Asset Management, Cougar Global Investments, Eagle Asset Management, Reams Asset Management, and Scout Investments. Starting in November of last year, Carillon Tower combined the old Eagle and Scout mutual fund families into a single new family, the Carillon Funds. And they're continuing to build out those five affiliates.

"That starts to position us to provide more of a multi-asset class product for our clients," Abbott says. "There's still a lot of asset classes that we could bring into the mix ... We're having discussions with a variety of folks."

Carillon Tower's growth "has historically been organic," Abbott says. Yet he sees the multi-boutique as a possible "natural solution for a number of firms," given the competitive pressures that small asset managers face in the marketplace.

"We've proven that we can bring on high quality managers and grow them," Abbott says. "Our primary focus is on getting the investment side right."

When looking at potential affiliates, Abbott says, he emphasizes "the importance of partnership" and of having "a common world view ... with a focus on getting investment results right ... [and] really being client-focused." Carillon Tower also has some "flexibility around the economic model."

"It depends on the affiliate and where they are in their lifecycle," Abbott says. "There's no one-size-fits-all."

"We recognize the importance of independence for the affiliates," Abbott adds. "On the investment side they really have full autonomy."

Carillon Tower now has about $64 billion in AUM and about 160 employees.

"We're pretty well stacked and staffed right now," Abbott says.

On the distribution side, watch for Abbott and his team to continue boosting their RIA channel efforts in the U.S. And he has distribution expansion plans overseas, too.

"We're looking to expand our sales and distribution into Europe," Abbott says, noting that they've had a footprint there for about a decade. 

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