Richmond investment management firm TSW to be acquired for $320M
Michael Schwartz photo)
A longtime Richmond investment management firm has found its latest suitor by way of Australia.
Thompson, Siegel & Walmsley, also known as TSW, is set to be acquired by Pendal Group for $320 million, the companies announced this week.
Headquartered in the West End, TSW has $23.6 billion in assets under management, adding to $21.1 billion which Pendal manages in the U.S. under its J O Hambro Capital Management subsidiary.
The deal, expected to close later this year, will give Pendal ownership of 100 percent of TSW, including the 25 percent owned by TSW management and the other 75 percent owned by investment management firm BrightSphere.