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Hennessy Advisors Closes Acquisition of 2 Rainier Equity Funds, Adding USD 253m in Assets
Tuesday 13 February 2018

13 February 2018 - California, US-based investment manager Hennessy Advisors, Inc. (NASDAQ: HNNA) has completed the acquisition of assets related to the management of the Rainier Small/Mid Cap Equity Fund, the third and final of the Rainier US Equity Funds, the company said.

The acquisition of this fund represents approximately USD 253m in assets, bringing total assets managed by Hennessy Advisors, Inc. to USD 7.3bn.

Rainier Large Cap Equity Fund and the Rainier Mid Cap Equity Fund will be reorganised into the Hennessy Cornerstone Large Growth Fund, and the Rainier Mid Cap Equity Fund will be reorganised into the Hennessy Cornerstone Mid Cap 30 Fund.

Hennessy Advisors offers domestic equity, multi-asset, sector and specialty mutual funds.
Details
Date Published: 13/02/2018
Target: Rainier Small/Mid Cap Equity Fund
Country: USA
Sector: Banking/Financial Services
Type: Corporate acquisition
Financing:
Status: Closed
Vendor:
Buyer: Hennessy Advisors
Comment:
Terms of the deal were not disclosed

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