PanAgora Asset Management acquired the international equity business of Independence Investment, adding six institutional clients with $1.2 billion in assets under management, said Brian R. Bruce, PanAgora director and head of equity investments. Terms of the deal were not disclosed. PanAgora now has more than $13 billion in international assets from institutions.
Independence is a subsidiary of John Hancock Financial Services, which is slated to merge with Manulife Financial.
