Principal Global Investors Boosts Stake In Columbus Circle Investors To 95%

(RTTNews) - Principal Financial Group (PFG) said Tuesday that its subsidiary, Principal Global Investors, LLC, has agreed to increase its stake in Columbus Circle Investors from 70% to 95%.

Principal Global Investors acquired a 70% stake in the Stamford, Conn.-based equity management firm in 2005 as part of its multi-boutique strategy. Since the initial acquisition, assets under management at Columbus Circle Investors have more than quadrupled, going from $3.9 billion in 2005 to $17.5 billion, as of June 30, 2014.

Tony Rizza and Clifford Fox, the two most senior partners at Columbus Circle Investors, will remain in their roles and the firm's management and strategies will continue uninterrupted, Principal Financial said.