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October 11, 2019

Knights of Columbus Asset Advisors announces acquisition

PHOTO | New Haven Biz Knights of Columbus headquarters in New Haven.
By Michelle Tuccitto Sullo

The Knights of Columbus’ asset management and investment arm announced this week that it has purchased the assets of Boston Advisors LLC’s institutional management business. 

Knights of Columbus Asset Advisors LLC (KoCAA) of New Haven reports having $24 billion in assets under management, compared to Boston Advisors’ $2.37 billion. 

Terms of the deal, which closed earlier this month, were not disclosed.

The two entities have had an ongoing relationship for years, as Boston Advisors has served as the Knights of Columbus’ investment advisor for eight years, and KoCAA’s sub-advisor for four years. KoCAA already held an 18.8-percent ownership stake in Boston Advisors, and this acquisition “builds on” this partnership, according to Knights officials. 

Boston Advisors’ institutional management business is now a division of KoCAA. On the Boston Advisors website, the company indicates to its institutional investors that it will remain the firm handling their accounts.

Boston Advisors will retain its branding and website, at www.bostonadvisors.com. Boston Advisors, an equity investment advisory firm, was established in 1982, and it will continue to operate independently.

Also this month, Boston Advisors announced it sold its private advisory group, which serves high-net-worth investors, to a different agency, Captrust Financial Advisors. 

Tony Minopoli, president and chief investments officer of KoCAA, said in the announcement, “We look forward to serving our new investors and seek to deliver strong investment performance portfolios.”

Peter Anderson, president of Boston Advisors, said his company has spent three decades growing a portfolio of corporate and public retirement and pension plans, endowments, foundations, charitable organizations and sub-advisory clients. 

Anderson expressed confidence the business will “continue to flourish” as a division of KoCAA. 

“We look forward to expanding our footprint in the institutional and faith-based markets through this deepened partnership,” Anderson said. 

KoCAA is a wholly-owned subsidiary of the Knights of Columbus, a Catholic fraternal service organization with nearly two million members worldwide.

Contact Michelle Tuccitto Sullo at msullo@newhavenbiz.com

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