Evergreen Investments, the investment management arm of Wachovia Corp., said Wednesday that it had agreed Oct. 1 to buy a minority stake in Golden Capital Management LLC.
Processing Content
Terms of the deal were not disclosed. It is subject to approval by the clients of Golden Capital, a Charlotte, N.C., investment management company.
Evergreen said it plans to leverage Golden Capital's expertise in large-cap equity portfolio management for its high-net-worth client portfolios. The Charlotte company will be a subadviser to Evergreen Private Asset Management, Evergreen's high-net-worth unit.
Evergreen, which is based in Boston, managed more than $46 billion of private-client accounts at June 30, and it managed more than $250 billion of assets overall.
