William Blair & Co. will acquire hedge fund-of-funds firm Guidance Capital in the first quarter, confirmed Tony Zimmer, William Blair spokesman.
Terms were not disclosed.
The acquisition, announced Thursday will increase William Blair’s assets under management by about $300 million to $44.5 billion, Mr. Zimmer said in a telephone interview.
Guidance Capital manages hedge funds of funds in absolute return, equity long/short, commodities and managed futures strategies, according to a William Blair news release.
“Guidance Capital gives us added perspective on the investment landscape,” Michelle R. Seitz, trustee and head of William Blair’s investment management division, said in the news release. “They will continue to operate as they successfully have to date, but will actively collaborate to leverage our broad intellectual talent for the benefit of all our clients.”
Guidance Capital’s employees in Chicago will relocate to William Blair’s Chicago headquarters “and will maintain its existing, independent, time-tested research and investment processes,” according to the news release. Guidance Capital’s Delaware employees will not be moved.