Federated Investors Inc., a Pittsburgh investment manager, announced Thursday that it had a definitive agreement to buy three mutual funds from Sentinel Asset Management Inc.
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The three portfolios have about $93 million of assets under management, and Federated managed about $217 billion at March 31. The deal's terms were not disclosed. A shareholder meeting to vote on the purchases is expected to be held in October.
This is Federated's fourth planned acquisition of stock or bond fund assets this year. Most recently, it announced a definitive agreement to buy MDT Advisers in Cambridge, Mass., a quantitative equity manager. Sentinel, a member of the National Life Group, is headquartered in Montpelier, Vt., and managed $18 billion at Dec. 31.
