Eaton Vance acquired 70% of money manager Atlanta Capital for $75 million, Eaton Vance’s second manager acquisition in a week. Atlanta Capital is an institutional, growth-oriented manager with $6.4 billion in assets under management, 75% of which is in equities. Eaton Vance earlier acquired Fox Asset Management, an institutional value-equity manager.
Atlanta Capital will continue to run autonomously, and employees of the firm will hold a 30% equity stake. The latest acquisition gives Eaton Vance a greater presence in the institutional and separate account business, said James Hawkes, Eaton Vance CEO.
The acquisitions boost Eaton Vance’s assets under management to $58 billion.
