Legg Mason to buy private asset manager QS Investors
March 4 (Reuters) - Asset manager Legg Mason Inc said it will buy privately held QS Investors to expand its portfolio of investment products.
New York-based QS Investors has $4.1 billion assets under management and about $100 billion in assets under advisory, Legg Mason said in a statement on Tuesday.
Legg Mason said the deal will result in restructuring costs of about $35 million and will add to earnings in 2015.
Terms of the deal, which is expected to close in the first fiscal quarter of 2015, were not disclosed.