Pioneer Investment Management USA, a Boston-based asset management firm owned by Italian bank UniCredit, has bought Vanderbilt Capital Advisors, a firm that specializes in separately managed fixed-income strategies and structured finance products for institutional investors.

Financial terms of the deal were not disclosed. Vanderbilt, which has $13bn (€10.4bn) in assets under management, will operate as a wholly-owned subsidiary of Pioneer.

Pioneer Investments buys Vanderbilt Capital

Jennifer McCandless in New York

UniCredit

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