DENVER - PMC International will buy all outstanding shares of ADAM Investment Services, Atlanta, which provides global asset allocation and portfolio management services.
Terms were not disclosed.
ADAM has about $1.2 billion in assets under management, of which about $175 million is institutional tax-exempt assets. PMC has about $1.5 billion under management, almost all for high net-worth individuals.
ADAM will be owned by PMC subsidiary Portfolio Management Consultants.
ADAM is expected to move its headquarters to Denver from Atlanta and most of the senior staff will join PMC.
