Stilwell Financial subsidiary Berger Funds of Denver has acquired Bay Isle Financial Corp., the company announced today. Based in San Francisco, Bay Isle brings with it $1 billion in assets under management, raising Berger’s total to more than $8 billion.

The terms of the deal were not disclosed.

Bay Isle, which manages mutual funds and individual and institutional accounts, is known for its expertise in large-cap value investing, according to Berger. In 1998 the two firms entered into a joint venture together to offer a large-cap value product.

Berger expanded its value initiatives with the launch of the Berger Large Cap Fund in October, and the Bay Isle acquisition continues that expansion.

"Extending our partnership further diversifies our firm and enables us to extend our successful value effort at Berger," Jack Thompson, CEO of Berger, said in a statement.

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