RMB Capital is lifting out the investment team and other employees of money manager IronBridge Capital Management, confirmed Krista Rivers, RMB’s senior vice president and director of institutional services, in a phone interview.
The combination is part of an effort by RMB Capital to build its institutional presence, Ms. Rivers said.
IronBridge manages around $1.7 billion in mostly institutional assets in several equity strategies, while most of the $6.7 billion in AUM managed by RMB in equity strategies and hedge funds is retail-oriented.
Ms. Rivers said the combination of the two firms is expected to take place on June 23. She said IronBridge has 35 employees that will join RMB Capital, including Chris Faber, IronBridge's founder, president, and lead portfolio manager, and other team members.
IronBridge is based in Oakbrook Terrace, Ill., while RMB is based in Chicago.