IBJ Whitehall Financial Group, the U.S. bank subsidiary of Industrial...

IBJ Whitehall Financial Group, the U.S. bank subsidiary of Industrial Bank of Japan, purchased a 50% equity interest in fixed-income manager Atlantic Asset Management Partners. The deal closed July 1. IBJ Whitehall purchased the equity interest from venture capitalists 230 Associates LLC and PAC Financial Co., which provided early financing for Atlantic. The other 50% equity stake is held by management of Atlantic, which will operate independently and manages about $4 billion for U.S. institutional and high net worth clients. IBJ Whitehall manages about $4 billion in U.S. equities, primarily for U.S. clients, and for some Japanese clients. IBJ Whitehall may steer business from Japanese investors toward Atlantic’s fixed-income products, said Joanne Dillon, a spokeswoman.