Acquisition of Charlotte-based investment management firm was
announced in February 2024.
CHARLOTTE, N.C., July 2, 2024
/PRNewswire/ -- Sterling Capital Management LLC (Sterling Capital)
announced today the completion of its acquisition by Guardian
Capital LLC, a wholly-owned subsidiary of global asset manager
Guardian Capital Group Limited (Guardian) (TSX: GCG) (TSX: GCG. A).
The transaction was announced on February 2,
2024, and concluded today following the fulfillment of the
requisite consent and approval processes.
"Our new partnership with Guardian creates more opportunities
for us to expand our client and asset base, to enhance our
capabilities, and to broaden our product offerings, all to the
benefit of our clients and our teammates at both Sterling Capital
and Guardian," said Scott Haenni,
Chief Executive Officer of Sterling Capital.
"We believe the strategic addition of Sterling Capital is an
exciting opportunity to expand our U.S. business growth plans,"
said George Mavroudis, President and
Chief Executive Officer, Guardian. "Sterling Capital's cultural
alignment paired with its high-quality business accelerates
Guardian's expansion into the U.S. market. We are optimistic about
the growth potential of the combined entity."
Sterling Capital was founded in 1970 and has grown to over
$77 billion in assets under
management and advisement as of March 31,
2024. Sterling Capital's investment teams will continue to
operate with the same processes and autonomy as done prior to
closing and will continue to be led by the current executive
management team, providing continuity, stability and continued
excellence for Sterling Capital clients.
The addition of Sterling Capital to the broader Guardian
organization not only increases Guardian's assets under management
and assets under advisement, but also enhances its overall scale
and expands its platform for future growth.
About Sterling Capital Management LLC
Sterling Capital
Management LLC, founded in 1970, is an indirect, wholly-owned
subsidiary of Guardian Capital Group Limited. Headquartered in
Charlotte, Sterling Capital
provides investment advisory services through mutual funds,
separately managed accounts, model portfolios, and other commingled
vehicles offered through a variety of intermediary and managed
account platforms. Sterling Capital's six distinct investment teams
provide a full complement of fixed income, concentrated active
equity, and multi-asset solutions. Learn more at
sterlingcapital.com.
About Guardian Capital Group Limited
Guardian Capital
Group Limited ("Guardian") is a global investment management
company servicing institutional, retail and private clients through
its subsidiaries. As at March 31,
2024, Guardian had $45.3
billion of total client assets while managing a proprietary
investment portfolio with a fair market value of $1 billion. Founded in 1962, Guardian's
reputation for steady growth, long-term relationships and its core
values of authenticity, integrity, stability and trustworthiness
have been key to its success over six decades. Its Common and Class
A shares are listed on the Toronto Stock Exchange as GCG and GCG.
A, respectively. To learn more about Guardian, visit
www.guardiancapital.com.
Investment advisory services are available
through Sterling Capital Management LLC (SCM), an investment
adviser registered with the U.S. Securities & Exchange
Commission and an indirect, wholly-owned subsidiary of Guardian
Capital Group Limited. SCM manages customized investment
portfolios, provides asset allocation analysis and offers other
investment-related services to affluent individuals and businesses.
SCM's preliminary assets under advisement (AUA) differs from our
regulatory assets under management for which we provide continuous
and regular investment management services as disclosed in our ADV.
AUA generally refers to non-discretionary assets for which SCM
provides advice or consultation for which SCM does not have
authority to effectuate transactions. Such services include model
portfolios and assets SCM advises as an outsourced Chief Investment
Officer on a non-discretionary basis.
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SOURCE Sterling Capital Management LLC