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Marcellus Taylor acquires majority interest in United Investment Managers

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Chicago-based emerging manager asset management firm United Investment Managers has been acquired by Marcellus Taylor, an emerging manager investor and former co-founder of Dallas-based Erasmus Advisors.

Terms of the transaction were not disclosed.

Taylor (pictured) resigned from Erasmus Advisors in 2007 after leading a sale of the firm to Deutsche Bank. Taylor will relocate from Dallas to Chicago to serve as chairman and chief executive of UIM.

UIM is an emerging “manager of manager” investment firm with over USD300m under management through six public pension clients including Public School Teachers’ Pension & Retirement Fund of Chicago, Municipal Employees Annuity & Benefit Fund of Chicago, and Fulton-DeKalb Hospital Authority.

Taylor is an emerging manager investment executive who has advised several public pensions on emerging manager investments including Connecticut Retirement Plans and Trust, New York Common Retirement and Wal-Mart. He has also served as a board adviser to several emerging managers including Pharos Capital and SynCom Partners.

Larry Gray sold his 90 per cent interest in UIM to Taylor, with the remaining ownership redistributed to current investment staff, including Cheryl Hua and Yolanda Waggoner, who were both promoted to senior vice presidents, and Thomas Zimmerman, who was promoted to chief operating officer.

Taylor says: “UIM will remain a Chicago-based, African-American owned firm with a deep commitment to the emerging ‘manager of manager’ market.”

Taylor also says the firm’s name will remain the same and that no changes will be made to any of UIM’s emerging manager investment programmes.

“UIM’s proven ability to deliver superior investment returns, a blue-chip roster of public pension clients and being headquartered in one of the most progressive emerging manager cities of Chicago were all key motivating factors for pursuing the acquisition,” Mr. Taylor adds. “I am grateful for the chance to build upon UIM’s eight years of emerging manager success.”

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