Phoenix Completes Zweig Acquisition
March 22, 1999
Phoenix Investment Partners of Hartford has completed its acquisition of the mutual fund business of Zweig Fund Group of New York for $135 million plus up to $29 million over the next three years, depending on revenue growth. With this acquisition, Phoenix has renamed the Zweig and Euclid open-end mutual funds the Phoenix-Zweig Funds and Phoenix-Euclid Funds. Phoenix currently has $57.5 billion of assets under management.