Manning & Napier, Inc. has announced an agreement to acquire a majority interest in Rainier Investment Management, LLC, a Seattle, Washington-based, active investment management firm with more than $3 billion in capitalization-based U.S. and non-U.S. equity strategies and fixed income products.
The acquisition will add to Manning & Napier’s product offerings, broaden the firm’s position as a provider to defined contribution plans and increase its geographic coverage of the western U.S.
Investment teams of both firms will remain autonomous, and the transaction will not generate changes to either firm’s investment personnel or processes. Rainier will continue to operate from its Seattle headquarters.
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