NY RIA Joins with Money Manager

May 1, 2009 (PLANSPONSOR.com) - Registered investment adviser Beck, Mack & Oliver LLC, a New York-based, firm, has acquired New York-based Austin Investment Management, Inc.

A news release said the newly combined entity manages more than $3.1 billion, including high net worth investors, endowments, foundations and employee pension plans.

Beck, Mack & Oliver has specialized in managing customized core U .S . equity portfolios, according to the announcement. Austin Investment Management manages separate accounts as well as a global equity mutual fund.

Terms of the transaction, effective April 10, 2009, were not disclosed.