BOSTON - Eaton Vance Corp. has agreed to buy 70% of Atlanta Capital Management Co. LLC for $75 million.
Atlanta Capital manages $6.4 billion of assets for institutional clients. The acquisition, which is expected to close by the end of October, would increase Eaton Vance's assets under management by 16%, to $58 billion.
The deal, announced Thursday, was Eaton Vance's second for a separate account manager in a week. On July 26 it agreed to buy Fox Asset Management, a Little Silver, N.J., company with $2 billion of assets under management, for $62 million.