Marcellus Taylor has acquired United Investment Managers, a Chicago-based emerging manager asset management firm with around $300 million in AUM. No financial terms were disclosed. Taylor previously was co-founder of Erasmus Advisors, a co-investment unit of Dallas-based Aldus Equity. He left Erasmus in 2007, following Deutsche Bank’s acquisition of a stake in Aldus.
Chicago-based emerging manager asset management firm, United Investment Managers (“UIM”) has been acquired by Marcellus Taylor, an experienced emerging manager investor and former co-founder of Dallas-based Erasmus Advisors. Terms of the transaction were not disclosed. Mr. Taylor resigned from Erasmus Advisors in 2007 after leading a sale of the firm to Deutsche Bank. Mr. Taylor will relocate from Dallas to Chicago to serve as Chairman and CEO of UIM.
UIM is a market leading emerging “manager-of-manager” investment firm with over $300 million under management through six public pension clients including: Public School Teachers’ Pension & Retirement Fund of Chicago, Municipal Employees Annuity & Benefit Fund of Chicago, and Fulton-DeKalb Hospital Authority.
Founded in 2001, UIM is structured as a fully integrated emerging manager platform with investment capabilities in domestic equities, real estate and alternative assets. UIM is an SEC Registered Investment Advisor with eight employees and 28 emerging manager partners.
Mr. Taylor is an emerging manager investment executive who has advised several public pensions on emerging manager investments including Connecticut Retirement Plans and Trust, New York Common Retirement and Wal-Mart, Inc. Mr. Taylor has also served as a Board Advisor to several leading emerging managers including Pharos Capital and SynCom Partners.
Larry Gray sold his 90% interest in UIM to Mr. Taylor, with the remaining ownership redistributed to current investment staff, including Cheryl Hua and Yolanda Waggoner, who were both promoted to senior vice presidents, and Thomas Zimmerman, who was promoted to chief operating officer.
According to Mr. Taylor: “UIM will remain a Chicago-based, African-American-owned firm with a deep commitment to the emerging ‘manager of manager’ market.” Mr. Taylor also said the firm’s name will remain the same and that no changes will be made to any of UIM’s emerging manager investment programs.
“UIM’s proven ability to deliver superior investment returns, a blue-chip roster of public pension clients and being headquartered in one of the most progressive emerging manager cities of Chicago were all key motivating factors for pursuing the acquisition,” Mr. Taylor added. “I am grateful for the chance to build upon UIM’s eight years of emerging manager success.”
About Marcellus Taylor
Mr. Taylor, 39, is an African-American, emerging manager executive with more than 15 years of institutional investment experience. In 2009, Mr. Taylor acquired United Investment Managers (“UIM”) which has grown to become one of the top 10 largest African-American “manager-of-manager” investment firms in the U.S. In 2003, he co-founded Erasmus Advisors, an emerging manager fund with over $1 billion of capital that was sold to Deutsche Bank in 2007. Mr. Taylor resigned from Erasmus in 2007 and was restricted from reentering the institutional investment market until 2009 due to a prior non-compete with Deutsche Bank.
Mr. Taylor is credited with advising several public pensions on emerging manager investment programs including Connecticut Retirement, New York Common Retirement and Wal-Mart, Inc. Previously, Mr. Taylor served on the Advisory Boards of a number of prominent emerging manager investment firms including Pharos Capital and SynCom Communications.
Earlier in his career, Mr. Taylor was an investment banker at Morgan Stanley, management consultant at Boston Consulting Group and a private equity investor at TSG Capital. Mr. Taylor received his MBA from Harvard Business School where he was a Toigo Fellow and BBA from Southern Methodist University. Mr. Taylor was previously appointed by Texas Governor Rick Perry as a Board Advisor to Texas Public Finance Authority.
About United Investment Managers (“UIM”)
Based in Chicago, UIM has established itself as a market leading provider of emerging investment management talent, focused on engineering multi–manager programs and providing institutional pension funds with access to smaller investment firms in the emerging manager market. Founded in 2001, UIM manages approximately $300 million of capital on behalf of an esteemed group of public pension clients including: Public School Teachers’ Pension & Retirement Fund of Chicago, Municipal Employees Annuity & Benefit Fund of Chicago, Fulton-DeKalb Hospital Authority. UIM is organized as a fully integrated emerging manager platform with investment capabilities in public equities, real estate and alternative assets. UIM is an SEC Registered Investment Advisor with eight employees and 28 emerging manager partners. UIM’s investment management team boasts more than sixty years of combined investment experience (www.unitedim.com)