MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Monday, March 2, 2015 RayJay's Eagle Catches a $1B Cat Eagle Asset Management [profile] is about to sink its talons into an ETF strategist. Today St. Petersburg, Florida-based Eagle (a subsidiary of broker-dealer Raymond James) unveiled a deal to buy Toronto-based Cougar Global investments and offer Cougar's strategies "to Eagle clients worldwide." Cougar dates back to 1993 when James Breech (now president, CEO, and chief investment officer of Cougar) spun it out from another company. As of December 31, 2014 it had more than $1 billion in assets under management. In an e-mailed statement, Eagle president and co-chief operating officer Richard Rossi confirms that the regulatory approval period for the deal could take up to take 45 days. Pricing and terms of the deal were not disclosed, yet Rossi says that Eagle expects to keep Cougar's staff intact once the deal closes. "We are confident that we have found a partner that is equally committed to our clients and with whom we can work to reach other investors who can benefit from our proven wealth-management solutions," states Cougar president, CEO, and chief investment officer James Breech. Cougar offers global, tactical allocation strategies, complete with downside protection components. The deal would turn Cougar into a wholly-owned RayJay subsidiary and an Eagle subadvisor. Eagle now has more than $30 billion in AUM. It has a team of more than 200 people, including 60 investment professionals. Printed from: MFWire.com/story.asp?s=51038 Copyright 2015, InvestmentWires, Inc. All Rights Reserved |