Knights of Columbus Asset Advisors, a New Haven-based asset manager more than $24 billion under management, acquired the institutional management business of Boston Advisors," spokeswoman Shari Smith said Thursday. Terms of the agreement were not disclosed.
Boston Advisors has been the investment adviser for Knights of Columbus since 2011 and subadviser to KoCAA since its formation in 2015. Boston Advisors currently has $2.37 billion in AUM.
KoCAA previously had an 18.8% ownership stake in Boston Advisors.
Boston Advisors will operate as a division of KoCAA and retain its modeling and quantitative research to create custom portfolios that emphasize risk management.
Knights of Columbus, a Catholic fraternal service organization, launched KoCAA to cater to Catholic institutional investors.