Federated Investors Inc. of Pittsburgh said it has completed its acquisition of Clover Capital Management Inc. of Rochester, N.Y., to run its traditional value products.

Clover Capital, which manages $2.1 billion of assets, has been renamed Federated Clover and will remain in Rochester, Federated Investors announced last week.

Federated Investors had $344 billion of assets under management in 147 funds as of Sept. 30. It plans to launch the Federated Clover Value Fund, the Federated Clover Mid Value Fund, and the Federated Clover Small Value Fund for financial intermediaries early next year.

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