As with all of Phoenixs affiliates, Capital West will operate independently from Phoenix as far as managing assets, but will receive distribution, marketing, technology and operational support from the firm, according to Phoenix.
Capital West, a quantitative manager based in Greenwood Village, Colo., caters to high-net-worth and institutional clients. The firms quantitative value style will be a good addition to Phoenixs retail managed account business, an area Phoenix is trying to build, said Philip McLoughlin, Phoenixs CEO. Phoenix will also try to expand Capital Wests institutional management business, McLoughlin said.
"Phoenixs extensive distribution capabilities will enable us to expand our reach beyond the Rocky Mountain region and attract new clients," said G. Todd Gervasini, COO of Capital West, in a statement.
While Phoenix will acquire a majority ownership stake in the company, Capital Wests principals will keep a significant equity stake, which was critically important, Gervasini said. Further details of the transaction were not disclosed.
