The latest M&A deals in wealth management across North America.

Virtus Investment Partners, a Nasdaq-listed asset management firm, has completed its $105n million majority investment in Sustainable Growth Advisers, a Stamford, CT-based firm concentrating on US and global equity portfolios.

SGA oversees about $11.6 billion of assets primarily for institutional clients in the US, Europe, Middle East, and Asia-Pacific.

The acquisition was paid for Virtus' balance sheet resources and $105 million of added borrowing on the company's term loan, it said in a statement last week.

Wells Fargo
Wells Fargo Asset Management, part of the US banking group, has sold its majority stake in a registered investment advisor, The Rock Creek Group, to the RIA's founder, Afsaneh Beschloss, and the RockCreek team.

The sale brings to an end WFAM's involvement in RockCreek, which has been an affiliate of the asset manager since December 2012, when WFAM acquired a minority ownership stake of 35 per cent. In April 2014, WFAM increased its equity ownership to a majority stake of 65 per cent. Rock Creek is located in New York and Washington DC.

This transaction is expected to close by the end of August, the firm said.

"The decision was made jointly by senior management at Wells Fargo and RockCreek, and reflects their shared view that the transaction supports each firm’s strategic direction and that clients of RockCreek will be best served by a founder- and management-team-led ownership structure," Wells Fargo said.

Wells Fargo Asset Management has more than $497 billion in assets under management.