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Hennessy Advisors amends term loan to allow Rainer asset acquisition
By Tali Rackner
Minneapolis, Dec. 4 – Hennessy Advisors, Inc. entered into a third amendment to its term loan agreement on Nov. 30 to authorize the company’s acquisition of certain assets of Rainier Investment Management, LLC, according to an 8-K filing with the Securities and Exchange Commission.
The assets are related to the management of the Rainier Large Cap Equity Fund and the Rainier Mid Cap Equity Fund.
The acquisition was completed on Dec. 1, and the Rainier Large Cap Equity Fund was reorganized into the Hennessy Cornerstone Large Growth Fund and the Rainier Mid Cap Equity Fund was reorganized into the Hennessy Cornerstone Mid Cap 30 Fund.
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