Federated Investors has reached an agreement to acquire Prime Rate Capital Management of London, a specialist in cash management and fixed income products. The company also has a family of UCITS, including the Prime Rate Sterling Liquidity Fund, Prime Rate Euro Liquidity Fund and Prime Rate U.S. Dollar Liquidity Fund.

Prime Rate Capital’s money market funds have $2.4 billion in assets under management and are rated AAA by both Fitch Ratings and Standard & Poor’s. Terms of the deal, expected to close in the second quarter, were not disclosed.

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access