MutualFundWire.com: Legg Mason Wraps Up the Sale of a Subsidiary
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Friday, May 13, 2011

Legg Mason Wraps Up the Sale of a Subsidiary


Legg Mason [see profile] has completed the sale of Barrett Associates [see profile] to the latter's management team. The transaction, terms of which were not made public, closed on April 29 [SEC filing]

The buyers have created a new company called Barrett Asset Management. The firm offers two mutual funds, Barrett Growth and Barrett Opportunity.

The deal with Legg Mason was signed December 6 of last year.


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