This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Wells Fargo Asset Management Makes A Strategic Investment In The Rock Creek Group

Stock quotes in this article: WFC

Michael Niedermeyer, Chief Executive Officer of Wells Fargo Asset Management, said, “We are very excited to be partnering with The Rock Creek Group, a well-respected and growing global investment firm with an outstanding reputation in the hedge fund industry. Our clients have expressed their desire for increased alternative investment solutions, and this partnership allows us to meet those needs. Rock Creek’s expertise across asset classes and in asset allocation is complemented by their strong portfolio transparency, commitment to risk management, and enhanced reporting and analytics—capabilities that not only serve their clients well but also closely align with our philosophy and culture."

Lazard acted as financial advisor to Rock Creek on the transaction and Sullivan & Cromwell LLP acted as legal counsel to Rock Creek and K&L Gates LLP acted as legal counsel to Wells Fargo Asset Management.

About Wells Fargo Asset Management

With more than $450 billion in assets under management as of September 30, 2012, Wells Fargo Asset Management (WFAM) has over 35 autonomous investment teams with specialized expertise and proven processes; 1,700 dedicated team members, including more than 500 investment professionals; and a global reach with offices and clients around the world. Wells Fargo Asset Management comprises Wells Capital Management, Wells Fargo Funds Management, LLC (advisor to the Wells Fargo Advantage Funds®), and the Affiliated Managers Division which includes several other boutique investment managers, including ECM Asset Management, Ltd., stable-value manager Galliard Capital Management, Inc., and quantitative manager Golden Capital Management, LLC.

Wells Fargo & Company is a nationwide, diversified, community-based financial services company with $1.4 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 9,000 stores, 12,000 ATMs, the Internet ( wellsfargo.com), and has offices in more than 35 countries to support the bank’s customers who conduct business in the global economy. With more than 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo was ranked No. 26 on Fortune’s 2012 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.

About The Rock Creek Group

The Rock Creek Group (Rock Creek) is a leading investment and advisory firm focused on investing in multi-manager portfolios of alternative investments as well as in emerging markets. It is one of the largest fund of hedge funds in the U.S. with 100% institutional assets. Rock Creek’s investors include premier institutional investors including pension plans, sovereign wealth funds, endowments, and foundations. It uses a sophisticated internally-developed Rock Creek Solutions platform to advise clients and to build portfolios that create long-term value. The Rock Creek Group was founded by Afsaneh Beschloss who was the Treasurer and Chief Investment Officer of the World Bank. Rock Creek manages more than $7 billion and approximately three quarters of assets are in customized portfolios to meet specific client objectives.

2 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,853.13 -189.77 -1.11%
S&P 500 1,956.56 -15.73 -0.80%
NASDAQ 4,443.5910 -49.7990 -1.11%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs