In a move that adds another boutique asset manager to Boston-based Old Mutual Asset Management, OMAM has agreed to buy Invesco Ltd.’s eight-person international equity portfolio management team led by Hans van den Berg, formerly of Morgan Stanley.

Under the agreement, the team will form a new OMAM affiliate, Echo Point Investment Management, based in West Conshohocken, Pennsylvania. Old Mutual‘s assets under management as of March 31 were $263 billion, according to a July 13 OMAM release.

Van den Berg and team joined OMAM following just over one month’s ownership by Invesco. On June 1, Invesco acquired Morgan Stanley’s retail asset management business, which included the Van den Berg team’s Morgan Stanley International Growth Equity Fund as well as two Van Kampen international growth funds. As of the June 1 transaction closing date, $114.6 billion in assets under management was acquired.

The retail assets previously managed by Mr. van den Berg’s team have been transferred to an Invesco international equity fund, according to a Mutual Fund Wire report, which also says that Old Mutual’s 18 current boutique managers include Acadian Asset Management, an active global and international equity manager based in Boston, London and Singapore, and Rogge Global Partners, a global fixed income institutional manager.

The OMAM-Invesco deal, which is set to close by September 30, was done privately. Pricing terms were not disclosed.

“We’re pleased to increase our capabilities in international equities, which continue to be an attractive market sector for investors, and to further diversify our boutiques,” said Tom Turpin, Old Mutual president and chief executive officer, in the news release. “Hans and his team bring decades of experience and a track record of success, which strategically complement Old Mutual’s existing resources in the growing international category.”

Old Mutual Asset Management (OMAM) is the name under which Old Mutual (US) Holdings Inc. conducts its U.S. asset management business, the company release states. It is the holding company for 18 distinct boutique firms. The group’s parent is Old Mutual plc, an international financial services company based in London, with operations in asset management, life assurance, banking, and general insurance.

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