Reserve Acquires Three First Republic Funds

Reserve President Bruce Bent said the firm decided to make the acquisition – which will add a mere $72 million to the firm’s $30 billion in assets under management – since a number of small funds have recently folded. "We see ourselves as saving good products and good managers who might be killed off in the current environment," Bent said. In fact, in anticipation of additional acquisitions, Reserve has hired a number of attorneys.