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Rosemont Buys Money Manager Stake

Rosemont Investment Partners will buy a 30% stake in active equity and fixed-income money management boutique, Piedmont Investment Advisors.

Rosemont Investment Partners will buy a 30% stake in active equity and fixed-income money management boutique, Piedmont Investment Advisors, Pensions & Investments reports. The financial details of the deal have not been disclosed.

Rosemont will invest in Piedmont through its private equity fund, Rosemont Partners II. The transaction is expected to be completed by the end of April 2011.

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