Raymond James to Acquire $46B Asset Manager Clark Capital

Core Viewpoint - Raymond James Investment Management is set to acquire Clark Capital Management Group, a $46 billion asset manager, as part of its strategy to expand its boutique investment management division [1][2]. Group 1: Acquisition Details - The acquisition involves Clark Capital Management Group, founded in 1986 and based in Philadelphia, which will retain its name and leadership team post-acquisition [2][3]. - The deal is expected to close in the third quarter of 2026 [2]. - Clark Capital offers multi-asset class investments, model portfolios, and mutual funds, along with a high-net-worth service team for wealth planning [2]. Group 2: Strategic Implications - This acquisition is part of Raymond James' commitment to building a leading global asset manager with a diverse range of innovative investment solutions, as stated by the Chief Operating Officer Scott Curtis [4]. - Clark Capital will join six other firms in the Raymond James Investment Management division, including Eagle Asset Management and Reams Asset Management [3]. Group 3: Leadership and Advisory - The firm is led by CEO Brendan Clark, the son of the founder and executive chairman Harry Clark [3]. - Raymond James & Associates acted as the financial advisor for the transaction, while Evercore served as the financial advisor for Clark Capital [4]. Group 4: Recent Developments - In December, Raymond James Investment Management appointed Jeff Ringdahl as president, who previously held a similar position at Summit Trail Advisors [5]. - Raymond James is listed on the New York Stock Exchange and is expected to report company earnings on January 28 [5].