Morgan Stanley Investment Management has acquired all the assets of Affinity Investment Advisors, an independent investment advisor that specializes in disciplined large-cap equity investing, and hired its investment team yesterday, according to an internal memo from Morgan Stanley.

Based in Irvine, Calif., Affinity manages assets for a variety of clients in the institutional and retail separate account space. The staff will remain based and operate out of Irvine, according to the memo sent by Chief Investment Officer Dennis Shea and Yie-Hsin Hung, head of strategic acquisitions and alliances.

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