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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • J. L. Kaplan Associates LLC
  • Evergreen Investments (Subsidiary of Wachovia Corporation)
  • Wealth Management Firms
  • September 24, 2002
  • $3 Billion

Seller Details

Founded in 1976, J. L. Kaplan Associates, LLC is a Boston-based asset management firm with approximately $3 billion under management for institutional and high net worth clients. J. L. Kaplan invests in small and middle capitalization companies that management views as high quality, are reasonably easy to understand, have favorable long-term prospects, are managed by competent individuals with integrity and are available at a price that represents a discount from intrinsic value.

Buyer Details

Evergreen Investments is the investment management arm of Wachovia Corporation. Evergreen manages in excess of $230 billion of assets through both mutual funds and seperate accounts. Wachovia Corporation is one of the five largest bank holding companies in the U.S.

Transaction Summary

J.L Kaplan provides Evergreen with high performance small and mid cap products that further round out its product line. Additionally, J.L. Kaplan's investment management capabilities extend Evergreen's expertise in the institutional arena. James Kaplan, the founder and owner of J. L. Kaplan, and his colleagues will remain with the firm and continue to manage the group’s four equity products focused on domestic small and middle capitalization companies. J. L. Kaplan will operate as a separately run asset management firm and deliver its products under the J. L. Kaplan name through Evergreen’s extensive distribution networks and relationships.

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