Victory Capital is buying Compass Efficient Model Portfolios LLC for an undisclosed amount.
Brentwood, Tennessee-based Compass developed an investment approach that aims to combine criteria with volatility weighting to help investors. The company has about $1 billion in assets under management.
Victory has been actively trying to expand its investment capabilities and made another acquisition in April, picking up Munder Capital Management and subsidiary Integrity Asset Management.
Cleveland-based Victory is a multi-boutique investment firm that has about $36 billion in assets under management. The firm also provides advisory services.
Several other financial services deals have been announced recently. In November, Securian Financial Group agreed to buy a majority stake in Asset Allocation & Management Co., which manages about $16.4 billion in insurance company assets. In May, North Street Global Fund Services picked up Los Angeles hedge fund administrator Hedge Solutions Inc.