Western and Southern Financial Group said Wednesday that Touchstone Advisors Inc., its wholly owned subsidiary, has closed the purchase of Constellation Investment Management Co. LP, bringing its assets under management to $7.5 billion.
The deal's terms were not disclosed.
Touchstone Advisors Inc. in Cincinnati replaces Constellation as the adviser to the $2.8 billion-asset Constellation Funds, and Touchstone Securities Inc. becomes their distributor.
No material change is planned in the investment strategies of the Berwyn, Pa.-based Constellation Funds or the investment professionals managing the funds, the company said. The funds are to be marketed under the Constellation brand until the third quarter, when they are to be renamed and marketed under the Touchstone brand.
