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Holding Company Scoops Up Texas Firm

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National Investment Manager Inc. has acquired National Actuarial Pension Services Inc. for about $2.5 million in cash and notes.

National Investment, New York, is a financial services firm consolidator that is buying pension plan administration, investment management and insurance businesses.

Before National Investment made the National Actuarial acquisition, it was administering 6,400 retirement plans with $6.3 billion in plan assets.

National Actuarial, Houston, administers 600 retirement plans with $600 million in assets. The 26-year-old firm has 15 employees.

Charles McLeod, president of National Actuarial, will stay with the firm as it integrates with National Investment, National Investment says.