Zurich-based independent wealth manager Belvoir Capital AG agreed to acquire Sloan Asset Management AG, which mainly works with U.S. and European clients, finews reported June 8.

The transaction will strengthen Belvoir Capital's business with U.S. clients, the company reportedly said. Zurich-based Sloan Asset Management, which has been registered with the U.S. Securities and Exchange Commission for more than a decade, will remain an independent legal entity.