Thomas Marsico, who rose to fame as a standout portfolio manager at Janus before founding Marciso Capital Management in 1997, has bought back his namesake firm from the Bank of America. Terms of the deal were not disclosed. The company, which specializes in growth-oriented equity, has $94 billion of assets under management and employs 71 people.
“We feel this transaction solidifies Marsico Capital Management’s foundation and helps ensure a long-term successful future for our company,” Marsico said. “I am pleased and proud that Marsico Capital Management will be an independent investment management firm.”
BoA purchased a 50% stake in 1999 for $150 million and the remainder of the firm two years later for $950 million.