FS Investments, an alternative investment manager, agreed to acquire money manager Chiron Investment Management.
Terms of the deal, which is expected to close in the first quarter of 2020, are not being disclosed, FS Investments spokeswoman Mollie Applegate said in an email.
Partner-owned Chiron was founded by Waddell & Reed veteran Ryan Caldwell, the firm's chief investment officer, and Goldman Sachs Asset Management veteran Enrico Gaglioti, the firm's CEO, in 2015.
Mr. Gaglioti will join FS Investments in a "senior leadership position," and Mr. Caldwell and his team will continue managing Chiron's three funds, according to a news release.
FS Investments has more than $24 billion in assets under management, while Chiron has about $1.8 billion in AUM.