TriState Capital Holdings Inc. (Nasdaq: TSC) has closed a deal for investment management firm Chartwell Investment Partners LP for $45 million.

Chartwell, headquartered in Berwyn, Pa., has about 150 institutional clients and about $7.5 billion in assets under management. Chartwell provides advisory investment management services to institutional plan sponsors, such as public mutual funds, corporations, Taft-Hartley funds, endowments and foundations. The purchase price includes another $15 million in earn-outs.

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