Wednesday, 24 August 2016
Last updated 16 hours ago
Aug 17 2012 | 8:35am ET
Boston-based Anchor Capital Advisors will acquire Moody Aldrich Partners’ Focused Value business and hire its founder and sole portfolio manager, Michael Pierre.
Pierre will join the Anchor investment team as a senior vice president and portfolio manager and his long-only domestic all-cap equity strategy will be available to Anchor clients immediately following the transaction close. The value of the deal was not revealed.
Focused Value grew out of a 2003 strategic partnership between MAP and Pierre & Company, which provided infrastructure and support to its All Cap Value.
“This is a terrific acquisition for Anchor,” says William P. Rice, president and founder of the $6.5 billion Anchor Capital. “Not only will it enhance our product offering, but Mike’s appointment represents an excellent addition to the next generation of leadership at the firm. We look forward to partnering with him on continuing Anchor Capital’s growth.”