Acquisition represents an important step to achieving strategic objectives for US business
Guardian Capital Group Limited has reached an agreement to acquire Sterling Capital Management LLC from Truist Financial Corporation. Guardian says the acquisition represents an important step to achieving its strategic objectives for its US business, adding US$75 billion (CAD$100 billion) in AUM/AUA, and unlocks growth opportunities, adds differentiated but complementary investment strategies, and creates increased scale for its US operations.
Headquartered in Charlotte, NC, Sterling traces its origins as an independent investment manager to 1970. The firm invests on behalf of a broad range of institutional and individual investors through separate accounts, model portfolios, and commingled vehicles, including mutual funds. T
“We are very excited to have Sterling join the Guardian group of companies as the acquisition significantly enhances our overall scale as a global asset manager and expands our platform for future growth. Sterling shares and complements our approach and values in addition to adding new capabilities and investment strategies that enhance our offering in the United States,” says George Mavroudis, president and chief executive officer of Guardian.
Following the anticipated closing of the transaction in the second quarter of 2024 (subject to normal consents and approvals for transactions of this nature), Guardian plans to operate Sterling as a standalone entity, led by the current team of management and senior professionals, providing continuity, stability, and continued excellence for Sterling clients.