"For more than 25 years, Clifton has focused on partnering with institutional clients to help them optimize their portfolio exposures, balance risk and control costs," said Mr. Hansen. "As part of Parametric, our ability to help clients meet these objectives will be significantly enhanced. My colleagues and I embrace the Parametric partnership with great enthusiasm."
"Since becoming part of Eaton Vance in 2003, Parametric has been a key element of our strategy to position the Company for an evolving investment management landscape and a major contributor to our growth," said Thomas E. Faust Jr., Chairman and Chief Executive Officer of Eaton Vance Corp. "The Clifton acquisition elevates Parametric's market position and overall importance to Eaton Vance."
Completion of the transaction is expected on or about December 31, 2012 and is subject to certain customary closing conditions. Terms are not being disclosed.
About ParametricParametric is a Seattle-based investment management firm focused on the delivery of rules-based, risk-controlled strategies, including engineered alpha-seeking portfolios, options strategies and customized equity and centralized portfolio management implementation services. As of September 30, 2012, Parametric managed $53.1 billion in assets on behalf of institutions, high-net-worth individuals and fund investors in the U.S. and internationally. Parametric is a majority-owned subsidiary of Eaton Vance. About Eaton Vance Eaton Vance Corp. is one of the oldest investment management firms in the United States, with a history dating to 1924. Eaton Vance and its affiliates managed $198.2 billion in assets as of September 30, 2012, offering individuals and institutions a broad array of investment strategies and wealth management solutions. Eaton Vance's long record of providing exemplary service, timely innovation and attractive returns through a variety of market conditions has made it the investment manager of choice for many of today's most discerning investors. SOURCE Eaton Vance Corp.