Tocqueville Asset Management, a 40-year-old investment management firm committed to delivering financial advice and services to families and institutions worldwide, announced that the advisory team at Poplar Forest Capital would join Tocqueville. Poplar Forest Capital has assets of $1.3 billion and it was founded in September 2007 by Dale Harvey, a Capital Group alumnus and portfolio manager, and focuses on long-term and bottom-up, value-oriented strategies.
Harvey will become a shareholder in Tocqueville and a member of the firm’s Management Committee. The terms of the deal were undisclosed.
This deal validates Tocqueville’s strategic growth plan, focused on enhancing its research and investment talent by integrating high-caliber teams. And Poplar Forest Capital’s commitment to fiduciary excellence, disciplined investment approach, and proven track record of strong client returns are closely aligned with Tocqueville’s culture and values.
KEY QUOTES:
“This transaction represents a significant step in our carefully considered growth strategy. Tocqueville has a long history of attracting entrepreneurial investment professionals who share our healthy skepticism of fashionable investment trends and a dedication to bottom-up, absolute return-oriented portfolio construction. Dale’s team embodies this ethos and expands our investment capabilities. We are thrilled to welcome them into the Tocqueville family.”
– Paul Kleinschmidt, CEO of Tocqueville Asset Management
“Joining Tocqueville provides immediate and significant benefits for our clients. Tocqueville’s robust institutional research platform, personalized client service process, enhanced technology infrastructure, and experienced management team will allow us to deliver even greater value for clients. We are excited about the opportunities this partnership creates.”
– Dale Harvey, CEO and Founder of Poplar Forest Capital
