Berger Buys INTECH from Pru

January 16, 2002 ( - Berger LLC, investment manager for Berger Funds, and Stilwell Financial, are to acquire Enhanced Investment Technologies (INTECH) from Prudential Financial.

Berger will be the new majority owner while key INTECH employees will hold a minority interest in the firm. Terms of the agreement were not disclosed.

INTECH manages approximately $6 billion in institutional assets using a proprietary mathematical investment strategy, capitalizing on the random nature of stock price movement as opposed to estimates of future stock performance, according to a news release from Berger.

INTECH’s primary portfolios include Large Cap Core, Large Cap Growth, Large Cap Value and Enhanced Index products.

Berger’s name will be changed to Berger Financial Group LLC and the company will market all INTECH institutional products while retaining the INTECH name.

The deal is subject to regulatory approval.