Berger has agreed to acquire a majority interest in Enhanced Investment Technologies (INTECH), a Palm Beach Gardens, Fla. technology firm that provides computer generated investment strategies. INTECHs leadership will retain a minority interest in the company. The terms of the deal were not disclosed.
The acquisition comes on the heels of Bergers announcement last month that it will acquire
"With the expectation of a lower return environment going forward, we believe it is important for Berger to develop a broader set of capabilities," said Jack Thompson, Bergers CEO and president. That broader set of capabilities is the reason Berger LLC will change its name to Berger Financial, he said.
INTECHs system is designed to provide long-term returns while controlling risk and trading costs. Itsportfolios include large-cap growth and core, large-cap value and enhanced index products, according to the company.
Including the assets it picked up through the Bay Isle acquisition, Berger Financial held $14 billion in assets under management as of Dec. 31, the company said.