Forward Management LLC, a San Francisco asset management company, announced that it has a deal to buy Berkeley Capital Management LLC's San Francisco retail division.
The deal, which was announced Monday, includes the investment portfolios and investment team that manages Berkeley's global dividend, international dividend, U.S. dividend, and "small-mid core" portfolios.
The division's entire San Francisco team, which includes investment, marketing, and client service professionals, would join Forward.
After the deal closes, Forward plans to double the number of Berkeley staff members in its separately managed account and institutional business.
Berkeley would retain its Los Angeles institutional division, Delta Asset Management. Forward did not say when it expected the deal would close.
