The combination of Highland and ICC increases client assets under management by Highland to $2.8 billion.
Memphis-based investment advisory firm Highland Capital specializes in managing equity and fixed-income portfolios for foundations, endowments, institutions and high-net-worth clients. Orlando, Fla.-based ICC has managed portfolios for similar clients with an additional focus on public pension funds and Taft-Hartley pension plans.
Steven Wishnia, Highland Capital managing director and president, who will continue to lead the firm, said the deal provides the combined firm more options to grow.
“This merger combines two money management firms with complementary areas of expertise,” Mr. Wishnia said in a news release announcing the merger. “By increasing our client base and expanding our core investment vehicles, Highland can even more effectively serve our clients and prospective clients.”
In addition to Highland Capital's headquarters in Memphis, the firm has regional offices in Orlando, Fla., and Mobile, Ala.