Minority- and woman-owned money manager Holland Capital Management is closing, confirmed Rekha Misra, chief operating officer.
The firm, in a news release, cited increasing challenges for long-only, active equity money managers as a reason for the closure, noting "the flight from active management to passive management and increasing fee compression" have negatively affected Holland Capital's business.
Monica Walker, CEO, chose to wind down the firm over the next several months because it is in its "clients' best interests," according to the news release. Ms. Walker co-founded the Chicago-based firm in 1991 and will pursue opportunities outside the money management industry once it is closed, the release said.
Holland Capital Management has about $2.5 billion in assets under management, all with institutional clients.