Ranger Investment Management, a Dallas-based manager that specializes in U.S. small- and microcap growth strategies, is acquiring a controlling interest in the firm previously held by Ranger Capital Group.
Terms of the deal, which is scheduled to close in late 2020 or early 2021, were not disclosed.
Once the deal closes, Ranger Investments will be controlled by its management team, confirmed Sarah Lazarus, a spokeswoman for Kudu Investment Management, which financed the deal and will own a passive minority stake in the firm.
Ranger Investments oversees roughly $2 billion in assets. Its management committee consists of current principals W. Conrad Doenges, chief investment officer; Andrew Hill, president and portfolio manager; Joseph LaBate, managing director and portfolio manager; and Brown McCullough, director and sector manager. The firm will retain key back-office personnel once the transaction is complete.
Ranger Capital Group initially invested in Ranger Investments in 2003 and held a controlling interest in the firm prior to the transaction. It will continue to provide operations and administration through a service agreement between the two firms but will no longer have an ownership stake.
Winstead PC served as legal adviser to Ranger Investments, and Seward & Kissel LLP provided legal counsel to Kudu.
