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  • Seller
  • Buyer
  • Type
  • Date Announced
  • Seller AUM
  • Parametric Portfolio Associates
  • Eaton Vance Corporation
  • Wealth Management Firms
  • June 5, 2003
  • $4.7 Billion

Seller Details

Parametric is a leading investment management firm based in Seattle, Washington, with $4.7 billion in assets under management. The company's primary business is managing separate accounts for high net worth investors, using proprietary systems to customize client portfolios, control risk and minimize taxes. Parametric offers two principal products: actively managed core investment portfolios which seek to outperform, an an after-tax basis, client-specified benchmarks; and overlay portfolio management for multi-manager or multi-style accounts.

Buyer Details

Eaton Vance Corporation is a Boston-based investment management firm with $62 billion in assets under management. The company is a leader in the investment industry as a comprehensive wealth manager, offering products that address all phases of an investor's lifetime: the creation and growth of wealth, the protection and preservation of its value and the distribution of wealth - all with an emphasis on tax efficiency.

Transaction Summary

The acqusition of Parametric by Eaton Vance enhances and diversifies Eaton Vance's leadership position in tax-managed investing. Through the acquisitions in 2001 of Fox Asset Management and Atlanta Capital Management, both of which have a focus on the separately managed account business, Eaton Vance has been committed to offering a comprehensive managed account capability. Parametric is expected to significantly increase Eaton Vance's presence in the separately managed account market. In total, Eaton Vance and its affiliates have more than $11.0 billion in institutional, high net worth and retail managed accounts.

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