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Wells Fargo Buys Rest of $10 Billion 'Active Quant' Firm Golden

Wells Fargo originally built a 65 percent stake in Golden Capital Management in 2011.

By Laura J. Keller

(Bloomberg) --Wells Fargo & Co. exercised an option to buy the rest of Golden Capital Management, an “active quant” investment firm that helps oversee $10 billion.

The bank, which built up a 65 percent stake in Golden in 2011, said in a statement Monday that it finished purchasing the rest at the start of this month. It didn’t disclose the terms.

Golden provides investment-management services to institutional and individual investors, combining research with quantitative execution. Wells Fargo’s asset management division has been expanding its quantitative-based offerings, last year acquiring Analytic Investors LLC, a deal that added about $15 billion in assets under management.

“The depth and experience of the Golden team excites us,” said Kirk Hartman, chief investment officer for the Wells Fargo division. “Each investment professional on the team has a background -- be it mathematics, computer science or engineering -- that lends itself to quantitative analysis.”

Golden, founded in 1999 by Greg Golden and Jeff Moser, manages and advises approximately $10 billion in assets, according to the statement.

To contact the reporter on this story: Laura J. Keller in New York at lkeller22@bloomberg.net To contact the editors responsible for this story: Michael J. Moore at mmoore55@bloomberg.net David Scheer, Dan Reichl

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