Raymond James to pay $172M for Scout Investments
Cash deal includes Reams Asset Management.
Raymond James Financial Inc. has agreed to buy Scout Investments and its Reams Asset Management division from UMB Financial Corp. for $172.5 million in cash.
Scout, an equity manager, and Reams, an institutional fixed-income specialist, will become part of Carillon Tower Advisers, a Raymond James asset management firm whose affiliates include Eagle Asset Management, ClariVest Asset Management and Cougar Global Investments.
The transaction is expected to close by the end of the year.
Founded in 1982 as a division of UMB and headquartered in Kansas City, Mo., Scout Investments and its Reams Asset Management division manage and advise $27 billion in assets. The addition of the two asset managers will raise Carillon Tower Advisers’ assets under management and advisement to more than $60 billion.
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