ReliaStar Financial Corp.'s planned acquisition of the asset manager Pilgrim Capital Corp. may not be its last deal for an investment company, the insurer's chairman said.

Pilgrim, a $7.6 billion-asset fund company, would be merged into Northstar Investment Management Corp., ReliaStar's $4.4 billion-asset fund unit, to help achieve scale, said John G. Turner, the chairman and chief executive of Minneapolis-based ReliaStar.

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