Three Stadion Money Management portfolio managers are joining North Square Investments as part of North Square's acquisition of Stadion's mutual funds.
Stadion's Lead Portfolio Manager Paul Frank, Chief Investment Officer Brad Thompson and Portfolio Manager Clayton Wilkin will become North Square Investments employees, North Square spokesman Martin Gawne confirmed.
The three Stadion funds that North Square is buying are the Stadion Tactical Growth, Tactical Defensive and Trilogy Alternative Return funds. They will be renamed the North Square Tactical Growth Fund, North Square Tactical Defensive Fund and North Square Trilogy Alternative Return Fund, respectively.
Messrs. Frank, Thompson and Wilkin will continue co-managing the Tactical Growth Fund, while Messrs. Thompson and Wilkin will continue co-managing Tactical Defensive and Trilogy Alternative Return funds. All three will become North Square Investments employees.
North Square is only acquiring these three mutual funds from Stadion Money Management. Stadion will remain an independent investment manager.
North Square currently has about $8 billion in assets under management. Once the deal closes, that AUM figure is expected to increase by about $1 billion.
The deal, which is subject to normal and ordinary closing conditions, is expected to close in the first quarter of 2021.
This move follows the completion of North Square's acquisition of money manager C.S. McKee in March.