BEVERLY, Mass.--(BUSINESS WIRE)--Easterly Investment Partners (EIP), an asset management company that partners with best-in-class boutique managers, announced today that it has completed its previously announced acquisition of Snow Capital Management L.P., a top-performing value equity manager. The partnership expands Easterly’s leadership in value investing, with a full range of complementary products available for institutional and retail investors.
“The agreement with Snow Capital Management advances EIP’s goal of providing an outstanding lineup of best-in-class value products across the entire range of market capitalizations,” said Easterly Chairman Darrell Crate. “At the same time, our marketing and distribution resources will help Snow Capital extend the reach of their products, enabling them to attract new investors in both the retail and institutional channels.”
Sewickley, Pennsylvania-based Snow Capital manages $1.6 billion in assets and has an excellent track record of producing strong performance relative to its peers. Its offerings include its All Cap Value equity strategy, which has a track record of more than 25 years, as well as its Small and SMID-cap value equity strategies, and a Long/Short mutual fund. With the addition of Snow Capital, EIP will have $3.8 billion in AUM.
In addition to making its strong distribution relationships available, EIP also will provide Snow Capital with a robust operations and compliance platform, including state-of-the-art technology, enabling Snow Capital’s investment team to concentrate on managing their strategies and funds on behalf of clients.
“We have a 40-year record of excellent performance in investment management under all market and economic conditions,” said Richard Snow, founder of Snow Capital, who continues as the Chief Investment Officer of the Snow Capital team. “That is a story that needs to be told, and joining EIP will help us accomplish that, while letting us focus on delivering results for investors.”
Under the agreement, Snow Capital’s entire investment team joins EIP and their philosophy and process remain unchanged. Among the veteran managers who will continue in their current roles at EIP are:
- Josh Schachter, CFA, Senior Portfolio Manager on the Snow Capital Small Cap Value, SMID Cap Value and the All Cap Value strategies;
- Anne Wickland, CFA, Portfolio Manager on the Long/Short Opportunity Fund, Large Cap Value and Equity Income strategies;
- Jessica Bemer, CFA, Portfolio Manager on the Snow Capital Long/Short Opportunity Fund and the Large Cap Value strategy; and
- Phil Greenblatt, CFA, Portfolio Manager on the Small Cap Value and SMID strategies.
Mike Collins, Global Head of Distribution for Easterly, will lead sales and marketing initiatives on behalf of EIP, with an emphasis on institutional investors. “Richard Snow and the talented team at Snow Capital have an eye for undervalued stocks that have the potential to generate solid returns, and we look forward to raising their visibility in the marketplace.”
Easterly is a multi-affiliate platform of high-performing boutique investment managers. Founded by industry veterans with over 20 years’ experience, Easterly is committed to bringing investors innovative and novel strategies by partnering with quality managers who are craftsman in their respective asset classes and investment processes. Our platform provides boutique firms a partnership that delivers a foundation to scale their business with best-in-class solutions in marketing, sales, technology, operations, human resources and finance. Through our platform partnerships, we connect investors with a broad set of differentiated investment opportunities. For more information, please visit Easterly at https://easterlypartners.com/.
About Easterly Investment Partners
Easterly Investment Partners (EIP) is the traditional, fundamental based investment arm of Easterly’s platform. EIP combines experienced teams and their investment strategies with the robust framework and institutional diligence of Easterly. Our current investment line-up spans the entire value equity market cap spectrum. Guided by a consistent contrarian investment philosophy, our value strategies are led by industry veterans and experts that have refined their craft and delivered strong performance through multiple market cycles. For more information, please visit EIP at https://easterlyip.com/.