Dwight Asset Management is acquiring the stable asset advisory and consulting unit of Laughlin Group.
Terms were not disclosed.
William Gardner and Joanne Gilmore, managing director and senior vice president, respectively, at Laughlin, will become senior vice presidents at Dwight.
Laughlin is an affiliate of Allstate Life Insurance and manages $5 billion in commingled stable value funds. Dwight manages more than $10 billion in stable value assets and is an affiliate of UAM. The deal is expected to close within a month.