Columbia Threadneedle to acquire Emerging Global Advisors

Columbia Threadneedle Investments has signed an agreement for Columbia Management Investment Advisers to purchase New York based boutique Emerging Global Advisors (EGA).

EGA provides investment advisory and smart beta portfolios focused on emerging markets and had $892m (€781.6m) in assets under management as at end April 2016.

It is also running nine emerging markets equity ETFs.

In a statement, Columbia Threadneedle said the transaction is expected to close later this year.

Ted Truscott, chief executive officer of Columbia Threadneedle Investments, said : “The experience and knowledge of the EGA team and strong emerging markets ETF products will complement our existing actively managed product lineup.

“The EGA acquisition will allow us to reach even more investors and accelerates our efforts as we build our smart beta capabilities.”

“Columbia Threadneedle Investment’s expansive footprint across global markets provides an opportunity to accelerate the growth of our smart beta platform,” added Robert Holderith, president and founder of EGA.

Columbia Threadneedle Investments managed $464bn(€406.6bn) in assets as at end March 2016.

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