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BRIEF-Newstar to add $726 million of managed assets through acquisition of investment manager
July 7, 2017 / 11:18 AM / a month ago

BRIEF-Newstar to add $726 million of managed assets through acquisition of investment manager

July 7 (Reuters) - Newstar Financial Inc

* Newstar to add $726 million of managed assets through acquisition of investment manager

* Says acquisition will add $726 million to assets under management, increasing total pro forma AUM to approximately $7.3 billion

* Newstar Financial Inc - transaction is expected to be accretive to Newstar's earnings per share in 2017

* Newstar Financial Inc - signed definitive agreement to acquire Fifth Street CLO Management LLC

* Newstar Financial Inc - transaction is expected to add more than $2.5 million to company's run-rate fee revenue Source text for Eikon: Further company coverage:

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