Robeco Groep, a Netherlands-based independent asset management company, has agreed to purchase Harbor Capital Advisors of Toledo, Ohio from Owens-Illinois, a manufacturer of glass and plastic packaging, for up to $490 million in cash, Robeco Group announced last week. Harbor Capitol Advisors oversees the Harbor Fund family of mutual funds, as well as Owens-Illinois'

pension funds. The Harbor Fund family has $14 billion in assets under management. Overall, Harbor Capital Advisors oversees $17 billion in assets. It is expected that Harbor Capital Advisors' offices will remain in Toledo. Harbor's management will probably be retained, according to Robeco Groep.

Robeco Groep is one of the largest independent asset managers in the world with approximately $100 billion under management, the company said. Harbor Capital Advisors will be part of the core business of its new parent. It was not a major business of Owens-Illinois.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.