Investment consultant Marquette Associates is acquiring Peirce Park Group, said a Marquette news release Wednesday.
Brian Wrubel, president and CEO at Marquette, said in the news release that the combination will give Marquette greater client capabilities on the East Coast.
Marquette, which is based in Milwaukee, serves more than 300 clients with more than $133 billion in assets. Peirce Park is based in West Chester, Pa., and had 35 clients with more than $4.5 billion in assets. Both firms serve a range of institutional clients, including public and corporate pension funds, Taft-Hartley pension funds and DC plans.
Terms of the transaction were not disclosed. Peirce Park will be merged into Marquette's consulting business.
As part of the acquisition, Michael W. Shone, Peirce Park Group president and Lee H. Martin, senior investment consultant, will become managing directors at Marquette.
Mr. Wrubel was not immediately available for comment.
