SHIFT: RidgeWorth to Target Sovereign Funds and Official Institutions
Atlanta-based RidgeWorth Investments, through its unit RidgeWorth International Ltd, is making a move to engage sovereign wealth and overseas public funds to boost assets under management. The asset manager is in the midst of redefining its marketing strategy after being spun off from SunTrust Banks. In late 2013, RidgeWorth Investments split from SunTrust Banks, selling itself to RidgeWorth employees and investment funds affiliated with Lightyear Capital LLC for US$ 265 million. Back in 2010, SunTrust Banks tried to sell RidgeWorth for around US$ 300 million to US$ 400 million to Henderson Group Plc. RidgeWorth owns a number of boutique asset managers which are Ceredex Value Advisors, Certium Asset Management, Seix Investment Advisors, and Silvant Capital Management. RidgeWorth also holds a minority ownership in Seattle-based Zevenbergen Capital Investments.
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