Investors in MFS investment management firm Titan Investment Management have agreed to acquire the stock of the investment firm.
The transaction closes in the third quarter of this year, according to a statement from MFS.
It’s a significant win for Titan investors, who have long been looking for a more diversified portfolio of stocks, said Richard Gannett, an analyst at CMC Markets in New York.
The deal will increase Titan’s exposure to the broader MFS market, said Gannets.
Titan has more than $2.3 trillion in assets under management.
The Titan deal also gives Titan the largest exposure to MFS stock, which MFS has in the past, he said.
MFS is the largest investor in Titan, and Titan’s holdings in Titan’s portfolio are valued at $3.1 billion.
“This is the second time in as many years that Titan has made an acquisition of MFS,” Gannetts said.
“I’m surprised it took Titan this long to make an acquisition, but this is a significant move by Titan to grow its MFS portfolio.”
The MFS deal is a big deal for Titan, which has had some struggles in recent years.
The MFPS, the largest stock brokerage firm in the U.S., is the country’s largest investor.
In 2015, it acquired an investment company called Titan Investment, a division of Titan that specializes in investing in real estate, utilities and energy companies.
The company had assets under $10 billion.
That deal was announced at the end of March and was closed before the start of the fourth quarter.
The investment firm had a loss of $3 billion in its last fiscal year.
The company said Titan had raised $2 billion through the sale of Titan Investments.
It said it expects Titan to raise more than that by the end the year.