Nvest of Boston has agreed to acquire a majority stake in Kobrick Funds, a family of three growth funds based in Boston, from Cendant Corp. of Parsippany, N.J. later this summer.

Both Nvest and Kobrick declined to disclose the selling price and the size of the majority position. However, Kobrick president and chief executive officer Frederick Kobrick said the deal gives Nvest full control of the board of directors and that under the agreement, signed June 11, he will continue to manage the funds for seven years.

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