Parametric Portfolio Associates, a subsidiary of Eaton Vance Corp. (EV), and The Clifton Group Investment Management Company announced today the completion of the previously announced purchase of Clifton by Parametric.
Based in Minneapolis, Clifton specializes in providing futures- and options-based overlay services and custom risk management products to institutional investors. As of October 31, Clifton managed $33.5 billion of funded and overlay assets on behalf of its clients.
Parametric is a Seattle-based investment management firm focused on rules-based, risk-controlled investment strategies, including engineered alpha-seeking strategies, options strategies and customized equity and centralized portfolio management implementation services.
As of October 31, Parametric managed $53.4 billion in assets on behalf of institutions, high-net-worth individuals and fund investors in the U.S. and internationally.