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.

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