Voya Investment Management, the asset management business of Voya Financial, Inc., has acquired the investment advisory business and other assets of Tygh Capital Management, a small-cap growth specialist.

TCM concentrates on small-cap and mid-cap growth investing for institutional and retail investors. The firm manages the TCM Small Cap Growth Fund with $520 million in assets. Following the deal, all of TCM’s current employees will join Voya and will continue to make use of its investment strategies in combination with Voya’s distribution capabilities and platform.

“This is a great opportunity for our team to enhance our ability to produce long-term performance for our clients,” added Richard Johnson, TCM CEO. “With access to enhanced resources, our talented portfolio managers will continue to be laser-focused on generating alpha.”

“We continue to invest across our investment platforms to bring best-in-class solutions to our clients,” said Christine Hurtsellers, chief executive officer, Voya IM. “Small-Cap Growth is an important focus and an area where active managers like Voya can generate meaningful alpha for investors…The accomplished team at TCM is a great addition to our active equity platform and aligns well with our key tenets: collaboration, client-centricity, and a focus on generating compelling risk-adjusted results.”