Horizon Asset Management and Kinetics Asset Management announced Thursday that they will merge on May 1 to form Horizon Kinetics, an investment advisor with $9.8 billion in assets under management.

Horizon Kinetics will continue to offer research-based investment strategies, maintain offices in New York and Elmsford, N.Y., and have its respective management teams continue in their roles. All of Horizon’s and Kinetics’ strategies and investment products will continue to be branded under their existing names.

“Combining Horizon and Kinetics creates a premier financial institution with leading investing products under one roof,” said Horizon Kinetics CEO J. Douglas Kramer. “As an integrated institution, Horizon Kinetics will enhance client service across our asset management platform and, thereby, enable our senior portfolio managers to focus exclusively on investing activities, research and idea generation.”

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