Horizon Asset Management will merge with Kinetics Asset Management and its affiliates. Murray Stahl has been appointed as the Chairman of the Board of Directors and CIO of the combined company, Horizon Kinetics, which will have offices in New York City and Elmsford, New York.
Steven Bregman will be president of Horizon Kinetics and continue in his role as director of research and senior portfolio manager, while Doug Kramer will act as the CEO of Horizon Kinetics. The combined company will have $9.8 billion in assets under management.
Click here for the release from Business Wire.