Philadelphia-based FS Investment Solutions LLC agreed to acquire New York-based multi-asset investment boutique Chiron Investment Management LLC.
Chiron currently manages about $1.8 billion in assets, and its three funds will be added to FS Investment's current offerings following the close of the transaction.
Chiron CEO Enrico Gaglioti will join FS Investments in a senior leadership position after the close of the transaction. Chiron Chief Investment Officer Ryan Caldwell and his team will continue managing all of Chiron's funds at FS Investments.
The transaction is expected to close in the first quarter of 2020, subject to customary regulatory approvals and closing conditions, including approval by Chiron's shareholders.
Financial terms of the deal were not disclosed.