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Article: Celebrity Investment Firm Sold.
- Article from:
- Los Angeles Business Journal
- Article date:
- December 18, 2000
CopyrightCOPYRIGHT 2000 CBJ, L.P. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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East Coast money manager and asset custodian State Street Corp. said it will buy a majority stake in Century City-based celebrity money manager Bel Air Investment Advisors for $217 million in cash and stock.
Boston-based State Street said it will acquire a 75 percent stake in Bel Air and 100 percent of the firm's brokerage unit as it seeks to expand its presence in the fast-growing market ...