United Asset Management reached agreement to acquire Clay Finlay, a global equity firm with $6 billion under management.
Terms were not disclosed, but observers estimated the price tag near $100 million, or slightly less than 2% of assets.
This is UAM's second international acquisition in a week and its 10th international money manager. UAM earlier announced it was acquiring Rogge Global Partners. At Clay Finlay, CEO Francis Finlay, CIO John P. Clay and all other principals will remain in their current positions.