Hartford Funds agreed to acquire Lattice Strategies, an investment management firm and provider of strategic beta exchange-traded funds, spokeswoman Robin Pertusi said.
Financial terms of the deal were not disclosed. The acquisition is expected to close in the third quarter.
This acquisition marks Hartford Funds’ expansion into ETFs, adding to its existing portfolio of actively managed mutual funds. Lattice Strategies also provides multiasset solutions.
Once the deal closes, Lattice’s team of more than 20 professionals will join Hartford Funds. Hartford Funds will maintain Lattice Strategies’ San Francisco office.
Lattice Strategies had $215 million in assets under management as of March 31. Hartford Funds had $73.6 billion in mutual fund assets as of the same date.