Carillon Tower Advisers, the St. Petersburg, Fla.-based global multi-boutique asset-management firm with $64.6 billion in assets, announced that it will increase its ownership in ClariVest Asset Management to 100 percent, making ClariVest a wholly owned subsidiary, effective April, according to a news release.
Carillon Tower, through its affiliate Eagle Asset Management, had purchased an initial 45 percent stake in San Diego-based ClariVest in 2012.
The transaction coincides with a long-planned management succession at ClariVest, the release said. Tiffany Ayres, who joined ClariVest in 2006 and serves as executive vice president, general counsel and chief compliance officer, will assume the role of president. Ayres, along with David Vaughn (chief investment officer for non-U.S. and global strategies) and Todd Wolter (chief investment officer for U.S. and alternatives strategies), will be responsible for day-to-day management at ClariVest.
ClariVest, which has $7.3 billion in assets under management, provides investment services to clients including mutual funds and other pooled vehicles, corporate and public pensions, foundations and multiemployer defined benefit plans. The firm invests across a range of equities strategies, including U.S. large and small cap, international and emerging markets equities.
Carillon Tower Advisers is a Raymond James subsidiary. Its global multi-boutique model is closely aligned with its partner affiliates, which in addition to ClariVest and Eagle Asset Management include Cougar Global Investments; Scout Investments; and Reams Asset Management, a division of Scout Investments, the release noted.