The investment firm founded by former Janus Capital Group fund managers has entered into an agreement to purchase Aster Investment Management.
The acquisition of Aster Investment, which is the current advisor to the Meridian mutual fund family based in California, will add $2.9 billion in mutual fund assets to Arrowpoint Partners.
The transaction is expected to close in the third quarter, subject to certain approvals.
Brian Schaub and Chad Meade, who both joined Arrowpoint from Janus Capital, will lead the team to manage the small/mid cap Meridian Growth Fund as well as institutional separate accounts in the small and small/mid cap growth space.
Based in Denver, Arrowpoint manages about $2.2 billion in separate accounts and limited partnerships