Callodine Group, an asset management firm, is acquiring Manning & Napier. Callodine is executing the acquisition in partnership with East Asset Management.
Manning & Napier provides investment services through separately managed accounts, mutual funds, and collective investment trust funds, as well as consultative services. Manning & Napier is an investment firm with $20 billion in assets under management. Callodine Group is an asset management platform with approximately $2 billion in assets. East Asset Management invests in private & public market securities and has formed investment vehicles to provide capital to industries like energy and entertainment.
“Manning & Napier represents a best-in-class investment management firm that we are thrilled to welcome to the Callodine Group platform,” said James Morrow, CEO of Callodine. “Growing up in Rochester, NY and having previously been a shareholder of the Company after its IPO, we know this is a business with a long and proud tradition of delivering outstanding results for clients. We look forward to partnering with the current management team to continue to uphold that standard of excellence.”
PJT Partners served as financial advisor and Gibson, Dunn & Crutcher LLP served as legal counsel to Manning & Napier. Manning & Napier’s management team was represented by Morgan, Lewis & Bockius LLP.