Liberty Financial Cos., Boston, will acquire Societe Generale Asset Management Corp. for about $216 million, Liberty announced today. SGAM has about $5 billion in mutual fund assets, with the majority in international investments. SGAM is being sold by the French bank Societe Generale and SGAM's principal portfolio manager, Jean-Marie Eveillard. SocGen is believed to be interested in buying a larger U.S. investment operation.
Mr. Eveillard and other SGAM managers will receive incentives to remain with the New York-based firm, Liberty officials said. SGAM and its SoGen funds will be renamed at a later date and will operate as a separate Liberty subsidiary.
