Sign up today and take advantage of member-only content — the kind of timely, cutting edge industry insight that only Money Management Executive can deliver.
  • Exclusive Online Only Content
  • Free Daily Email News Alerts
  • Asset Management Blogs

Pilgrim Closes on Nicholas-Applegate

Pilgrim America Capital Corp. of Phoenix, Ariz., has closed on its acquisition of the 11 retail Nicholas-Applegate Mutual Funds of San Diego, Calif. The funds were purchased for $24 million.

The deal brings Pilgrim's assets under management to $7.4 billion, up from $1.6 billion. Pilgrim manages 19 open and closed-end mutual funds.