Boston Firm Adds ValueQuest

May 13, 2002 ( - A Boston money manager has acquired ValueQuest, a $500 million active equity value manager.

In announcing the deal, Thomas Weisel Asset Management (TWAM) said its parent company, Thomas Weisel Partners, now manages $2.7 billion in assets. The deal’s terms were not disclosed.

Founded in 1982, ValueQuest works with an “active contrarian value” investment process, the announcement said.

ValueQuest focuses on out-of-favor stocks and looks for catalysts to unlock the value in a three-to-five-year time frame. The team currently manages domestic mid- and all-cap, global and international portfolios for institutional clients.

Senior management of ValueQuest, including its CIO Katherine Magrath and senior investment professionals Ned Gray, Zoe Neale, and Larry Franko will continue to manage the ValueQuest investment products.

ValueQuest will be headquartered in TWAM’s Boston offices, the companies said.