Multiasset manager Shelton Capital Management is acquiring Rockwood Capital Advisors, an international fixed-income specialist, to complement its growing institutional focus.
Terms of the deal, which will close May 18, are not being disclosed, said Andrew Holtgrieve, Rockwood Capital's managing partner and chief operating officer.
Rockwood Capital's portfolio management team will join Shelton Capital as a result of the acquisition and remain based in St. Louis, Mr. Holtgrieve said. Rockwood Capital has about $525 million in assets under management, he said.
"Rockwood's portfolio management team brings compelling investment solutions with great track records, and their client-centric service model complements ours. Their clients have enjoyed outstanding returns and together, we are well positioned to bring this performance to other institutional clients who oftentimes prefer larger scale," said Steve Rogers, CEO of Shelton Capital, in a news release from that firm Friday.
Shelton Capital has $3.4 billion in assets under management, according to the news release.
A spokesman for Shelton Capital could not provide further information.