SAN FRANCISCO, Oct. 11, 2012 /PRNewswire/ -- Ashfield Capital Partners LLC ("Ashfield") announced today that its management team has signed a definitive agreement with its parent company, Old Mutual Asset Management (US), to acquire the firm and its existing business. The transaction is expected to close by the end of 2012. Following the close of the transaction, the management team at Ashfield will continue to operate the business in the same manner as it is currently conducted, through Ashfield Capital Partners LLC.
"After this transaction closes, our employees will own 100% of our firm's voting shares," said Stephen Lauck, Ashfield's President & CEO. "Ownership participation includes our current officers as well as a majority of our staff. We believe this transaction not only ensures the continuation of the high quality services that we provide, but also creates an added incentive to all employee/owners of our firm. Additionally, we have made important investments in our research and support capabilities over the past several years, and believe we are well-positioned for continued growth as an independent firm."
About Ashfield Capital Partners LLC
Ashfield Capital Partners, LLC, based in San Francisco, CA, offers portfolios comprising high-quality growth companies for domestic and international corporate retirement plans, public funds, multiemployer pension plans, endowments, foundations and private investors. Its predecessor company was founded in 1973 and was reorganized in 2007 when Old Mutual (US) Holdings Inc. purchased a majority interest in the firm. See www.ashfield.com for more information.
SOURCE Ashfield Capital Partners LLC