NEWPORT BEACH, Calif.--(BUSINESS WIRE)--Pacific Asset Advisors LLC (PAAL), an investment management firm wholly-owned by Pacific Life Insurance Company, has completed its acquisition of Cadence Capital Management, a boutique investment firm with approximately $4 billion in assets under management located in Boston, MA. Through this acquisition, PAAL gains access to strategic beta solutions that enhance its ability to deliver to its clients' distinct investment opportunities. Cadence continues to operate as an independent investment advisor.
“We welcome the Cadence Capital team to PAAL and to Pacific Life,” said Andrew Oleksiw, senior vice president of Corporate Development for Pacific Life. “Their team of investment professionals, led by CEO Michael Skillman, has an average of 20 years of investment experience that enhance PAAL’s ability to develop new investment strategies.”
“PAAL has a strong track record of successful alliances with other asset management firms and there is a good cultural fit between PAAL and Cadence,” said Michael Skillman, CEO of Cadence Capital Management. “We are enthusiastic about our continued ability to work with our clients to meet their investment goals.”
About Pacific Life
Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients. For additional company information, including current financial strength ratings, visit www.PacificLife.com.
Pacific Life refers to Pacific Life Insurance Company and its affiliates, including Pacific Life & Annuity Company. Client count as of June 2016 is compiled by Pacific Life using the 2016 FORTUNE 500® list.
About Cadence Capital Management
Founded in 1988, Cadence Capital manages approximately $4 billion on behalf of institutions, mutual funds and high net worth individuals. Cadence employs a disciplined, systematic investment approach across global equity markets to meet its client’s needs. For additional information please visit www.CadenceCapital.com.