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SSI acquires convertible securities investment firm Froley Revy
By Devika Patel
Knoxville, Tenn., March 9 - SSI Investment Management Inc. and Froley Revy Investment Co., Inc. jointly announced the completion of SSI's acquisition of Los Angeles-based convertible securities investment firm Froley Revy.
The current principals of Froley Revy will have an ownership stake in SSI, and Andrea Revy O'Connell joins the SSI board of directors. O'Connell continues to manage the long-only portfolios and also joins SSI's Investment Policy Committee.
Froley Revy's complete investment team of portfolio managers and research analysts, along with the firm's trading, operations and marketing associates, have joined SSI's 30-person staff.
"We have known the Froley Revy team for many years and are excited to bring the strengths of both organizations to our respective clients," SSI's chairman and chief executive officer Amy Jo Gottfurcht said in a press release. "With convertible securities well-positioned to achieve attractive returns, clients will benefit from broadened research capabilities and cross-pollenization of investment ideas. We welcome Andrea to our board and are confident that this transaction will enable us to deliver additional product offerings for our growing customer base."
"Our team is excited about joining forces with SSI and believes our combination will provide continuity and opportunity for everyone," O'Connell said. "We share a fundamental philosophy that positions us well with existing and future clients."
Based in Beverly Hills, Calif., SSI specializes in absolute return market-neutral and convertible arbitrage investment strategies.
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