History
Aetna acquired a majority ownership stake in Federated Investors in 1982; at the time Federated had nearly $30 billion in assets under management. In 1989, Federated management bought out Aetna for $345 million, reestablishing majority control of the company. In 1996, Federated management paid $100 million to acquire the remaining 25% stock ownership still held by Aetna. Federated completed an initial public offering on the NYSE on May 14, 1998.
In September 2012, Federated Investors announced that it had bought around $4.4 billion in assets from Fifth Third Asset Management Inc. In 2009, Federated Investors bought the mutual fund RIMAX and acquired Audrey Kaplan, who has been successfully running the mutual fund since then.
Read more about this topic: Federated Investors
Famous quotes containing the word history:
“Three million of such stones would be needed before the work was done. Three million stones of an average weight of 5,000 pounds, every stone cut precisely to fit into its destined place in the great pyramid. From the quarries they pulled the stones across the desert to the banks of the Nile. Never in the history of the world had so great a task been performed. Their faith gave them strength, and their joy gave them song.”
—William Faulkner (1897–1962)
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—Eugène Ionesco (b. 1912)