Segall Bryant & Hamill agreed to acquire Denver Investments, said Mark Rewey, director of marketing and business development at Segall Bryant.
Financial terms of the deal were not disclosed. The transaction is expected to close in the second quarter.
The Denver Investments name will no longer exist after the deal closes. The combined manager will be overseen by current Segall Bryant CEO Philip L. Hildebrandt. SBH plans to keep Denver Investments' office in Denver.
Denver Investments provides small-cap growth, high yield and core-plus capabilities to Segall Bryant, said Mr. Rewey. The Westcore Funds, which are advised by Denver Investments, are expected to become part of the Segall Bryant family of mutual funds.
RBC Capital Markets served as exclusive financial adviser to Denver Investments. Goodwin Proctor is acting as legal counsel to Segall Bryant & Hamill. Morgan Lewis & Bockius is acting as legal counsel to Denver Investments.
Segall Bryant has about $12.4 billion in assets under management, while Denver Investments has about $7.3 billion in AUM.
