Glouston Capital Partners LLC Partners Red Barrett, Rob Di Geronimo, Ben Marino and Mike D'Agostino have completed the acquisition of Legg Mason Inc.'s stake in the Boston-based private equity investment specialist.

With the transaction, Glouston Capital Partners has become 100% employee-owned. The transaction follows the company's name change from Permal Capital Management in November 2016 and marks the final step in its separation from The Permal Group, now known as EnTrustPermal, and its parent organization, Legg Mason.

There will be no changes to Glouston Capital Partners' team, investment strategy or back-office functions.