White Plains, N.Y.-based Quaestus Holdings LLC has acquired M.J. Whitman LLC from Third Avenue, a subsidiary of Prides Crossing, Mass.-based Affiliated Managers Group Inc.
Terms of the deal were not disclosed.
Affiliated Managers Group confirmed to S&P Global Market Intelligence that the acquisition did not have any economic impact on Third Avenue, which had been "slowly winding down" M.J. Whitman, its legacy business, to streamline its corporate structure.
New York-based M.J. Whitman provides securities brokerage, investment advisory and portfolio management services.
