Carillon Tower Advisers will increase its ownership stake from 45 percent to 100 percent of ClariVest Asset Management, a San Diego-based asset-management firm. No financial terms were disclosed. The deal will close in April.
ST. PETERSBURG, Fla., February 26, 2019 – Carillon Tower Advisers, a global multi-boutique asset-management firm with $64.6 billion1 in assets under management and advisement, is pleased to announce its plan to increase its ownership stake in ClariVest Asset Management LLC. Effective in April, ClariVest will become a wholly owned subsidiary of Carillon Tower’s affiliate, Eagle Asset Management. The move follows Eagle’s purchase of an initial 45 percent stake in ClariVest in 2012.
“We deeply value the partnership we have built with ClariVest in recent years, and we look forward to achieving an even stronger connection between Carillon Tower’s distribution capabilities and ClariVest’s unique investment products,” said Cooper Abbott, President of Carillon Tower. “ClariVest’s distinctive approach and experienced team continue to offer attractive solutions that address the needs of institutional investors globally.”
The transaction coincides with a long-planned management succession at ClariVest. Tiffany Ayres, who joined ClariVest in 2006 and serves as Executive Vice President, General Counsel and Chief Compliance Officer, will assume the role of President. Ms. Ayres, along with David Vaughn, Chief Investment Officer – Non-U.S. and Global Strategies, and Todd Wolter, Chief Investment Officer – U.S. and Alternatives Strategies, will be responsible for day-to-day management at ClariVest. “Consistency of team and process have been, and will continue to be, a hallmark of ClariVest,” said Stacey Nutt, CEO and CIO, who will become Senior Advisor to the firm. “This orderly transition will ensure that the next generation of leadership continues ClariVest’s long-standing investment process, culture, and track record of delivering excellent service to its institutional clients.”
“Carillon Tower has been an invaluable partner to ClariVest since its investment in 2012, and we look forward to continued collaboration to meet the needs of our clients,” said Tiffany Ayres. “Carillon Tower’s approach of providing scalable business support to autonomous investment teams puts ClariVest in a strong position to continue delivering the highest quality investment advice and results to our clients.”
ClariVest, which has $7.3 billion1 in assets under management, provides investment services to clients including mutual funds and other pooled vehicles, corporate and public pensions, foundations, and multiemployer defined benefit plans. The firm invests across a range of equities strategies, including U.S. large and small cap, international and emerging markets equities.
“ClariVest’s disciplined investment strategy takes advantage of the breadth provided by quantitative tools and the depth of qualitative analysis,” said Court James, Executive Vice President of Carillon Tower. “The firm’s innovative investment solutions will continue delivering strong portfolio results for our clients in the years to come.”
Carillon Tower Advisers’ global multi-boutique model is closely aligned with its partner affiliates, which in addition to ClariVest and Eagle Asset Management include Cougar Global Investments, Scout Investments, and Reams Asset Management, a division of Scout Investments.
1 Information as of January 31, 2019
About Carillon Tower Advisers, Inc.
Carillon Tower Advisers is a global asset-management company that combines the exceptional insight and agility of individual investment teams with the strength and stability of a full-service firm. Together with our partner affiliates – ClariVest Asset Management, Cougar Global Investments, Eagle Asset Management, Reams Asset Management (a division of Scout Investments) and Scout Investments – we offer a range of investment strategies and asset classes through a number of vehicles, each with a focus on risk-adjusted returns and alpha generation. We believe this lineup of institutional-class portfolio managers can help investors meet their long-term business and financial goals. Ultimately, our structure allows affiliated investment teams to focus on what they do best: managing portfolios. Visit CarillonTower.com.
About ClariVest Asset Management LLC
Founded in 2006, ClariVest Asset Management is a San Diego-based asset-management firm offering services to institutional clients, including corporate and public pension plans, foundations, and Taft-Hartley clients worldwide. ClariVest’s universally applied investment philosophy is based on capturing the return potential created as investors react inefficiently to significant shifts in a company’s fundamental growth cycle. Portfolio managers work as a cohesive team to manage strategies across geographies and the market-cap spectrum. Visit ClariVest.com.