JPMorgan Fleming Asset Management in New York said Tuesday that it plans to buy the investment advisory and fund administration businesses of Pacholder Associates Inc., a high-yield investment adviser based in Cincinnati that manages more than $2.5 billion.
In addition Banc One Investment Advisors Corp., a Morgan Fleming unit, is to acquire Pacholder's interest in Banc One High Yield Partners LLC and Pacholder & Co. LLC.
William Morgan, a high-yield portfolio manager who co-founded the firm in 1983, leads Pacholder. He is to report to Gary Madich, the chief investment officer of JPMorgan Fleming Asset Management's fixed-income group in Columbus, Ohio.
Before the deal Pacholder was a joint venture partner with Banc One Investment Advisors in the six-and-a-half-year-old Banc One High Yield Partners.
