F.L.Putnam Buys $1B Wisconsin Firm
Deal adds $1 billion large cap growth equity strategy to F.L.Putnam's platform, expanding its Midwest presence
F.L.Putnam Investment Management Company has acquired Red Granite, an affiliate of 1251 Capital Group, in its largest acquisition to date. The deal adds a $1 billion large cap growth equity strategy to F.L.Putnam's investment platform and establishes the company's first presence in Wisconsin.
The Red Granite team, led by Co-Chief Investment Officers Joel D. Vrabel and David J. Drzadinski, has managed a large cap growth equity strategy together since 1996. The team will continue to operate from its office in downtown Milwaukee, and its strategy aims to outperform the Russell 1000 Growth Index over a market cycle while maintaining lower risk and volatility.
F.L.Putnam has $12 billion in assets under management and has acquired 12 companies since CEO Tom Manning took the job in 2015. The acquisition of Red Granite marks a significant expansion of F.L.Putnam's investment platform and establishes its second location in the Midwest.
## What it means The acquisition of Red Granite by F.L.Putnam is a significant development in the investment management industry. The deal brings together two experienced teams and expands F.L.Putnam's investment platform. The large cap growth equity strategy offered by Red Granite will provide F.L.Putnam's clients with a new investment option, and the company's presence in Wisconsin will help it to tap into new markets.
## Background F.L.Putnam Investment Management Company is a registered investment advisor based in Lynnfield, Mass. The company has been actively expanding its investment platform through acquisitions, and the deal with Red Granite is its largest to date. Red Granite's team has a proven track record of managing large cap growth equity strategies, and the company's addition to F.L.Putnam's platform is expected to enhance its investment offerings.
The acquisition of Red Granite by F.L.Putnam also marks a significant development in the Midwest investment management market. The company's establishment of a presence in Wisconsin will help it to compete with other investment managers in the region, and its large cap growth equity strategy will provide investors with a new option for managing their assets.
