After entering the U.S. market as an asset manager nearly 10 years ago, Robeco Investment Management (RIM) is exiting the U.S. fixed income business, citing insufficient scale to provide a platform for growth in that segment of the asset management business. Morgan Stanley Investment Management will take over the $4.8 billion in taxable U.S. fixed income assets currently managed by Robeco Weiss, Peck and Greer. The transaction is expected to close in May, according to a statement from RIM. Robeco also plans to concentrate its fixed-income capabilities in Europe, where it manages a global fixed-income portfolio of more than $60 million. Exiting the U.S. market is the latest tactic in a broader realignment strategy for the company. RIM is in the process of finalizing its exit from the U.S. municipal fixed income business, and it has rolled out a plan to reward key investment professionals with ownership interests in the company.
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