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Rosemont Investment Group buys minority stake in 1607 Capital Partners

Private equity firm Rosemont Investment Group LLC agreed to acquire a minority stake in 1607 Capital Partners LLC.

Rosemont Investment Group makes investments in asset and wealth management companies, specifically minority investments. Richmond, Va.-based 1607 Capital Partners specializes in closed-end funds and has roughly $3.7 billion in assets under management, according to a news release.

Financial terms of the transaction were not disclosed.

Cozen O'Connor was the private equity firm's legal counsel in the transaction, while Goodwin Procter LLP was 1607 Capital's legal representative.