NEW YORK (

TheStreet

) --

Federated Investors

(FII) - Get Report

has finished the acquisition of $14 billion in money market assets that were formerly managed by

SunTrust Bank

(STI) - Get Report

's RidgeWorth Capital Management.

The assets were gradually transitioned into Federated money market funds beginning in September 2010, according to a press release.

Federated acquired the assets in July. The assets originally were composed of $17 billion in money market assets contained in nine RidgeWorth money market mutual funds. However, due to "market fluctuations" between July and November, the value of those assets depreciated to $14 billion, a Federated spokesman said.

The remaining assets were transitioned into six existing Federated money market mutual funds with similar investment objectives, according to Federated.

--Written by Maria Woehr in New York.

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