Columbia Threadneedle Investments agreed to acquire Emerging Global Advisors, a provider of smart beta portfolios focused on emerging markets, Columbia Threadneedle spokesman Carlos Melville said.
Terms of the acquisition were not disclosed. The transaction is expected to close later this year.
EGA has $892 million in assets under management and is the investment adviser to the EGShares suite of nine emerging markets equity exchange-traded funds.
Columbia Threadneedle does not currently have smart beta assets under management. In the first quarter of 2016, Columbia Threadneedle Investments filed a preliminary registration statement with the Securities and Exchange Commission for a line of equity smart beta ETFs called the Columbia Beta Advantage ETFs.
After the transaction closes, Columbia Threadneedle intends to combine the EGA line of ETFs with the Columbia Beta Advantage Series of smart beta ETFs, Mr. Melville said.
Columbia Threadneedle has $464 billion in assets under management.
