Putnam Lovell Equity Partners, a private equity fund managed by Putnam Lovell NBF Private Equity, has agreed to buy Mizuho Corporate Bank’s interest in Atlantic Asset Management.

Stamford, Conn.-based Atlantic, which is an independent firm, specializes in fixed income, asset allocation and alternative equity investment strategies. The deal is expected to close in June.

Putnam will acquire a "significant minority position," while the management of Atlantic will maintain the majority ownership. Atlantic and its affiliates, which employ 54 people and manage $9 billion in a variety of fixed-income and specialized investment strategies, have generated annual growth of assets under management of about 25% over the last five years.

Since 2000, Putnam Lovell NBF Private Equity has invested in six asset management and related businesses. These portfolio companies invest $20 billion of assets for institutional, high-net-worth and retail clients.

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