Wealth management

In Brief: Pioneer Acquiring Stake in Oak Ridge

Published September 20, 2004, 5:00 p.m. EDT

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Updated September 17, 2004, 4:00 p.m. EDT

1 Min Read

Pioneer Investment Management USA Inc. is buying a minority ownership in Oak Ridge Investments LLC.

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The deal, announced Wednesday, is expected to close this year and would allow Pioneer to offer managed accounts. Pioneer, of Boston, did not specify how much of Oak Ridge, of Chicago, is being acquired.

Pioneer Investment Management is a unit of Pioneer Global Asset Management, the investment management arm of UniCredito Italiano. Pioneer Global has 23 offices in 17 countries, and as of June 30 it managed $152 billion of assets, including $36 billion in the United States.

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Wealth management

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