Putnam Lovell Equity Partners, a private equity fund, will acquire Berkeley Capital Management from London Pacific Group. According to a statement from London Pacific, the purchase price will be $7.75 million in cash, with an additional $1 million cash installment to be paid Dec. 31. The deal is expected to close May 15.
Berkeley Capital will retain its name. It manages $1.1 billion in value and growth equities and balanced strategies for a combination of institutional and other clients.