Cambiar Investors executives completed a management buyout of the company from Old Mutual Holdings, Boston. Terms were not disclosed, but Cambiar President Brian Barish said executives bought a majority interest and have the ability to buy out Old Mutuals minority holding over time. All participants in the partnership that owns a controlling interest in Cambiar have contributed personal financial capital to the transaction.
Mr. Barish said Cambiar, a former United Asset Management subsidiary, will operate independently of Old Mutual, and Cambiar executives are "very excited to be in complete control of our destiny again. No changes are planned for Cambiars relative value style or to portfolio management teams.
Cambiar has $2.5 billion under management in separate accounts and in the Cambiar Opportunity Fund.