Easterly Asset Management Completes Acquisition of Olstein Fund Business, Expands Platform with Launch of Easterly Snow All Cap Value Fund (SNVIX, SNVAX, SNVCX)

BEVERLY, Mass.--(BUSINESS WIRE)--Easterly Asset Management (“Easterly”), home to investment teams providing investors with a portfolio of solutions across private markets, active equity, and active fixed income, today announced the successful completion of its acquisition of Olstein Capital Management, L.P.’s (“Olstein”) mutual fund business, following shareholder approval on June 26, 2026. The completed transaction adds $43.42 million in assets under management to the Easterly Snow Small Cap Value Fund (SNWIX, SNWAX, SNWCX, SNWRX) and $465.28 million in assets under management in the Easterly Snow All Cap Value Fund (SNVIX, SNVAX, SNVCX), a new series of the Easterly Funds Trust.

The Easterly Snow investment team, a Strategic Partner of Easterly, manages the Easterly Snow Small Cap Value Fund (SNWIX) and the newly formed Easterly Snow All Cap Value Fund (SNVIX). For over 28 years, the team has managed the Easterly Snow All Cap Value strategy, and the launch of the Easterly Snow All Cap Value Fund extends access to a broader range of investors while maintaining the same disciplined, fundamental-driven investment philosophy.

“As a firm dedicated to partnering with high-quality managers, we understand the importance of delivering the outcomes and consistency that clients expect,” said Darrell Crate, Founder and Managing Principal of Easterly Asset Management. “As we continue to expand our platform, we remain focused on scaling strategies and offering investors access to products that can make their portfolios better.”

In connection with the transaction, Eric Heyman, formerly President, Lead Portfolio Manager and Director of Research at Olstein Capital Management, and Mark Zichelli, formerly Vice President, Regional Sales, have joined Easterly. Heyman will support client servicing as a Senior Vice President, and Zichelli joins as Vice President, Sales, supporting US wealth advisory and RIA development.

“We’re excited to welcome Olstein shareholders to Easterly, and provide them with the scale, infrastructure, and distribution capabilities of our platform,” said Amaris Miller, Chief Operating Officer at Easterly Asset Management. “The addition of Eric and Mark will help ensure continuity for existing shareholders while further strengthening Easterly’s bench.”

Led by Chief Investment Officer and Senior Portfolio Manager, Joshua Schachter, CFA, Easterly Snow has an established track record of navigating multiple market cycles across a range of products. In addition to the new Easterly Snow All Cap Value Fund, the team currently manages the Easterly Snow Small Cap Value Fund (SNWIX, I share class), the Easterly Snow Long/Short Opportunity Fund (SNOIX, I share class), and a range of value-oriented strategies across market capitalizations.

"We believe this is a particularly compelling time for active management where market volatility and inefficiencies create opportunities for disciplined managers," said Joshua Schachter, CFA, Chief Investment Officer and Senior Portfolio Manager of Easterly Snow. “We’re excited to scale the Easterly Snow Small Cap Value Fund and launch the Easterly Snow All Cap Value Fund to meet growing investor demand for strategies that seek to find attractive asymmetrical risk/reward opportunities across market cycles.”

About Easterly
Easterly Asset Management and its Strategic Partners provide private wealth and institutional investors with a portfolio of solutions across private markets, active equity and active fixed income. Founded in 2019, Easterly's goal is to bring curated solutions to clients that make their portfolios better by partnering with trusted investment teams who have an established track record of delivering value to investors. Easterly enables high-performing managers to operate at scale by delivering best-in-class resources, risk management, operational support, infrastructure and an institutional and wealth distribution team. For more information, visit easterlyam.com.

IMPORTANT DISCLOSURES
Investors should carefully consider the investment objectives, risks, charges and expenses of the Easterly Funds. This and other important information about the Fund is contained in the prospectus which should be read carefully before investing. To obtain a prospectus or summary prospectus which contains this and other information, visit funds.easterlyam.com or call Easterly Securities at 888-814-8180. Performance data quoted represents past performance. Past performance is not indicative of future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. All results are historical and assume the reinvestment of dividends and capital gains. Performance shown reflects contractual fee waivers. Without such waivers, total returns would be reduced. Please click here to view standardized performance for the Fund.

The Easterly funds are distributed by Easterly Securities LLC, member FINRA/SIPC. Easterly Investment Partners LLC is an affiliate of Easterly Securities LLC. Orange Investment Advisers, LLC and EAB Investment Group, LLC are not affiliated with Easterly Securities LLC.

Easterly Snow and Easterly Ranger are investment teams of Easterly Investment Partners LLC, an SEC-registered investment adviser. EAB Investment Group LLC (d/b/a Easterly EAB), Orange Investment Advisors LLC (d/b/a Easterly Orange), and Lateral Investment Management are separate SEC-registered investment advisers that are strategic partners of Easterly. Each investment adviser’s Form ADV is available at www.sec.gov. Registration does not imply and should not be interpreted to imply any particular level of skill or expertise.

Not FDIC Insured–No Bank Guarantee–May Lose Value.

IMPORTANT FUND RISK
There is no assurance that the Funds will achieve their investment objectives. The share price of each Fund will fluctuate with changes in the market value of its portfolio investments. When you sell your Fund shares, they may be worth less than what you paid for them and, accordingly, you can lose money investing in the Funds.

Investments in small- and medium-capitalization companies tend to have limited liquidity and greater price volatility than large-capitalization companies. Diversification does not assure a profit nor protect against loss in a declining market. Investments in foreign securities involve greater volatility and political, economic, and currency risks, as well as differences in accounting methods; these risks are greater in emerging markets. Investments in debt securities typically decrease in value when interest rates rise, and this risk is usually greater for longer-term debt securities. The Funds may invest in lower-rated or non-rated securities, which present a greater risk of loss of principal and interest than higher-rated securities. The Funds may invest in other investment companies, and the cost of investing in the Funds will generally be higher than investing directly in the underlying funds. Investors will indirectly bear their proportionate share of fees and expenses charged by those funds, in addition to the principal risks of the underlying funds. The Funds may use options and futures contracts, which involve risks of potentially significant losses due to unanticipated market movements and the failure to correctly predict the direction of securities prices, interest rates, or currency exchange rates. This investment may not be suitable for all investors.

The Fund is exposed to a broad range of investment risks arising from its holdings in equities, foreign securities, ADRs, and companies of varying sizes and styles, as well as from overall market conditions and active management. ADRs carry many of the same risks as foreign securities, including currency, political, and market risks, and unsponsored ADRs may involve higher costs and reduced shareholder rights and transparency. Equity investments are inherently volatile and sensitive to issuer-specific, sector, and broader market or economic developments, with common shareholders bearing greater risk in a company’s capital structure. Foreign investments introduce additional complexities, such as currency fluctuations, political instability, regulatory differences, reduced disclosure standards, potential illiquidity, and government actions like capital controls or sanctions that may impair trading or repatriation. Concentrated investments increase exposure to sector-specific downturns, while global market events—ranging from economic crises to geopolitical conflicts—can drive widespread and rapid declines in asset values. The Fund also faces risks associated with company size, including slower growth in large-cap firms and heightened volatility and liquidity constraints in small- and mid-cap firms, as well as limitations inherent in preferred securities. Active management decisions may underperform expectations, and value-oriented strategies may lag during periods when such styles are out of favor, all of which can result in significant fluctuations in the Fund’s value and potential loss of principal.