Ziegler Capital Management acquired Fitzgerald Asset Management, a registered investment adviser specializing in sustainable infrastructure investments, a news release Tuesday said.
Additionally, William M. Fitzgerald, founder of Fitzgerald Asset Management, has been named CEO of ZCM.
Mr. Fitzgerald replaced Scott Roberts, who had been president and CEO of ZCM since 2009. It could not be learned where he was going.
The acquisition of Fitzgerald Asset Management adds sustainability-focused investment strategies to ZCM's fixed-income and equity strategies. The acquisition follows ZCM's announcement in December that it made a strategic investment in the New York-based minority-owned fixed-income manager GIA Partners.
ZCM is a majority-owned affiliate of 1251 Asset Management with more than $10 billion in assets under management as of March 31.
Further information was not immediately available; ZCM spokesman Cosmo Macero Jr. could not be immediately reached.