UMB Financial Sells Scout Investments in $172.5M Cash Deal

Stradley Ronon represented UMB Financial in completing the sale of its institutional investment management subsidiary, Scout Investments, to Carillon Tower Advisors, a unit of Raymond James Financial, for $172.5 million in cash. The transaction involved the reorganization of the Scout mutual fund family over to CTA/Raymond James. Scout Investments is based in Kansas City, Missouri, and Columbus, Indiana, and had $27.3 billion in assets under management as of Dec. 31, 2016.

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