Griffin Asset Management Inc., an independent investment advisor based in New York City, has been acquired by Lebenthal Asset Management LLC, Lebenthal announced Tuesday.

Griffin, which is led by Douglas M. Famigletti, president and chief investment officer, has six professional staff and $427 million in AUM, according to their latest ADV filing with the Securities and Exchange Commission.

With the acquisition, Lebenthal has $2.5 billion in AUM. Terms of the transaction, which was completed on Dec. 31, were not disclosed.

Griffin is primarily a growth and income equity manager. It manages separate accounts for clients as well as a mutual fund, the KF Griffin Blue Chip & Covered Call Fund.