Frank Russell Co. agreed to buy a 19.9% stake in Strategic Investment Solutions. At the end of two years, each firm will get a vote on whether Frank Russell buys the remaining stake in Strategic. Further terms were not disclosed.
The alliance will provide Strategic, which services 30 institutional clients, access to Frank Russell's capital markets and manager research as well as its real estate consulting and multinational expertise. Frank Russell will gain access to Strategic's top-drawer consulting clients, which include the $95.9 billion New York State Common Retirement Fund, Albany, and the $49.7 billion Wisconsin State Investment Board, Madison.