Easterly Investment Partners has made an equity investment in money manager Snow Capital Management.
The amount of the stake and terms of the deal were not disclosed in a news release Monday.
The eight-person investment team at value manager Snow Capital Management will join Easterly Investment Partners effective July 1 as a result of the deal, according to the news release.
The combined value equity manager will have about $5 billion in assets under management. The team joining Easterly includes founder Richard Snow, Senior Portfolio Manager Josh Schachter and portfolio managers Jessica Bemer, Phil Greenblatt and Anne Wickland.
A spokeswoman for Easterly Investment Partners could not be immediately reached for further information.