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Merrill Takes Sterling Stamos Stake
Merrill Lynch(MER Quote) is moving further into the alternative investments space.
The New York investment bank agreed to take a noncontrolling investment in Sterling Stamos Capital Management, a private investment firm with $4 billion in assets under management.
Merrill Lynch did not disclose how much it paid for the minority stake. Sterling Stamos, with offices in New York, Tokyo and Menlo Park, Calif., will remain an independent firm. ...
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