Babson Capital Management has acquired a minority stake in Secor Asset Management, Pensions & Investments reports. The financial details of the transaction have not been disclosed.

The subsidiary of MassMutual, with $136 billion of assets under management, acquired the undisclosed stake in the asset manager. Secor was founded by former General Motors Asset Management CIO Tony Kao and Ray Iwanowski, former co-head of quantitative investment strategies at Goldman Sachs Asset Management, in 2010.

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