Calamos Asset Management’s founder and CEO are taking the company private, Calamos spokesman Jeff Kelley said.
The money management company is being acquired by an entity formed by the firm’s founder, John Calamos, and its chairman and CEO, John Koudounis. This entity will make a cash offer to acquire all of the outstanding shares of Class A common stock it does not own for $8.25 per share.
“I believe a fully private ownership structure will enable John Koudounis to focus on managing our business to his vision for our firm’s long-term growth,” Mr. Calamos said in a news release.
Mr. Koudounis added in the news release: “Upon arriving at Calamos, I directed an extensive analysis of our corporate structure. Being a fully private company — consistent with 95% of asset managers today — will allow us to manage the business with the same long-term view that we apply to our investment approach. By eliminating the distraction of the market’s increased focus on short-term metrics, we can be singularly dedicated to improving our key performance areas.”
Calamos Partners — made up of Mr. Calamos, other Calamos family members and Mr. Koudounis — controls 97.4% of the combined voting power of all classes of Calamos Asset Management’s voting stock.
Calamos had $20.1 billion in assets under management as of Sept. 30.
