Eaton Vance Corp. announced the completion of the acquisition of substantially all the business assets of Calvert Investment Management Inc. by Calvert Research and Management, a newly formed subsidiary of Eaton Vance.

Terms of the transaction were not disclosed.

In conjunction with the acquisition, the boards of trustees and shareholders of Calvert mutual funds approved investment advisory agreements with Calvert Research and Management. Also, Calvert Investment Management President and CEO John Streur will join Calvert Research and Management in the same role.

Calvert Investment Management, an indirect subsidiary of Ameritas Holding Co., had $12.1 billion of fund and separate account assets under management as of Oct. 31.