Resolute Investment Managers acquired a majority ownership stake in SSI Investment Management.
SSI will continue to operate independently under its own name, said Danielle Orsino, a spokeswoman for Resolute Investment, in an interview.
Ms. Orsino declined to provide information about the terms of the deal, which was finalized Dec. 27, and the size of the ownership stake.
Resolute runs a multimanager asset management platform used for funds-of-funds strategies by American Beacon Advisors, its wholly owned subsidiary. Resolute will provide operational support and distribution to SSI, a news release said.
"When we thought about the future of SSI, we knew having the backing of a firm like Resolute would be invaluable to both our clients and team," said George Douglas, SSI's chief investment officer, in the news release.
SSI managed $1.9 billion in quantitatively managed equity and convertible bond strategies for an institutional client base as of Sept. 30.
Resolute had a total of $71.2 billion on its investment platform as of Sept. 30, with $59.1 billion managed by American Beacon and the remainder by five other firms in which Resolute holds an ownership stake.
