Research Affiliates sold a minority stake in the company to Nomura...

Research Affiliates sold a minority stake in the company to Nomura Asset Management. Terms were not disclosed. Research Affiliates has grown to $19 billion in assets from $1 billion during the past three years, largely on the back of its fundamental indexation strategies and the All Asset strategies the firm subadvises for PIMCO. The money manager also runs tax-advantaged and liability-driven investment strategies.