Money Management Executive
Robeco Groep Will Purchase Harbor Capital Advisors
March 21, 2001, 1:00 a.m. EST 1 Min Read
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 has announced.
Harbor Capitol Advisors oversees the Harbor Fund family of mutual funds, as well as Owens-Illinois pension funds. Harbor Fund 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. Harbors management will probably be retained, according to the announcement.
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.
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Money Management Executive