GCM is engaged in delivering advanced and personalised investment solutions to help clients meet their financial goals
Investment advisory firm MAI Capital Management, has acquired Grisanti Capital Management (GCM), a US-based asset manager, for an undisclosed amount.
The all-equity transaction builds on MAI’s recent expansion in New York City. It will add an experienced team of investment professionals to MAI’s ranks.
MAI said that the transaction would increase its assets under management, valued more than $225m.
MAI managing partner Rick Buoncore said: “We continue to be strategic in our growth, and the acquisition of GCM is a strong example of our approach.
“Chris and I have been friends for many years and his client-centric vision aligns perfectly with MAI’s philosophy. The GCM team brings an established portfolio management style that exemplifies MAI’s commitment to long-term success for clients.”
Grisanti and other GCM team members will be transferred to MAI
Under the transaction, GCM chief executive officer Christopher Grisanti will be appointed as chief equity strategist and senior portfolio manager at MIA, and will supervise the construction of MAI’s equity products, while continuing his role as a portfolio manager.
Along with Grisanti, the remaining GCM team members, including Rashida Alexander, Suzanne Fawbush, Tom Marra and Mike Pietzak, will be moved to MAI.
GCM is engaged in delivering advanced and personalised investment solutions to help clients meet their financial goals. The company is specialised in offering bottom-up portfolio management based on proprietary research.
The company is focused on long-term equity strategies, through its Grisanti Large Cap Value Portfolio and the Grisanti High Income Equity Portfolio.
GCM chief executive officer Grisanti said: “As economies of scale became increasingly desirable, we searched for years to find the perfect partner. MAI offers an abundance of resources while also granting us the freedom to continue nurturing long-standing relationships with our clients.
“I have known Rick professionally and personally for more than 25 years and have seen how MAI has grown under his leadership. The team has a track record of supporting the firms it joins forces with, and that gives me confidence in our future together. We couldn’t be more excited.”