Federated Investors, Inc. has completed its purchase of the London-based liquidity and fixed-income product manager Prime Rate Capital Management.

The English investment manager will be now known as Federated Prime Rate Capital Management and will continue to be led by Dennis Gepp, managing director and chief investment officer of cash, who was also a founding partner of the firm. The business and all of its employees will operate as a subsidiary of Federated Holdings (UK) Limited and Federated Global Holdings LLC, each group being companies of Federated Investors, Inc.

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