Boston Private Financial Holdings said it has agreed to by an 80% stake in money manager Dalton, Greiner, Hartman, Maher & Co. for about $75 million, according to Reuters.
The financial services company, which caters to affluent investors, said the deal is expected to close in the third quarter and is subject to regulatory approval.
Boston-based Boston Private, manages around $6.8 Billion dollars in assets. The company said the purchase was made to help it move into the New York City metropolitan area. The firms current business is from New England and Northern California.