Transamerica Investment Management, a member of the AEGON Group, said last week it would acquire Westcap Investors, a Los Angeles-based money manager. The financial terms of the deal, which is expected to close this summer, were not disclosed.

The deal also represents a reunion of company executives. Gary Rolle, chief investment officer at TIM, and Glenn Weirick, Westcap's president and CIO, had worked together at Occidental Life 38 years before, Rolle said.

"We have long shared similar investment philosophies and had always talked about working together again," Rolle said. "I'm pleased that day has arrived."

TIM and Westcap's Los Angeles-based investment operations will be combined, and TIM will maintain its operations in Dayton , Ohio , and Denver , Colo.

"This acquisition clearly illustrates the importance of the investment management business within the AEGON organization," said John Riazzi, TIM's chief executive officer. Aegon both supports TIM and allows the unit its autonomy, Riazzi added.

Westcap, which specializes in managing assets for institutions and high net-worth clients, currently has about $3 billion assets under management in small-cap growth, small/mid-cap growth, large-cap growth and balanced strategies.

"It's an exceptional fit for Westcap and we're delighted to be joining the TIM organization," Weirick said. "We hadn't considered such a merger or acquisition for Westcap in the past, but realized the synergies and strategic possibilities were quite strong as we began discussions with TIM. The combination brings together two very experienced portfolio management teams with complementary investment styles and cultures. We're confident we can further enhance the investment services we provide to all of our clients."

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