Pelican Investment Management has offices in Boston and New York and approximately $500m of client assets under advisement.
Pelican principals Anthony Pell, David Callard, John Paolella and their team will join Eaton Vance Investment Counsel.
Pelican Investment Management was co-founded in 2001 by Pell and Callard.
Pelican develops customized investment advisory strategies for individuals, families and related charitable entities. The company has earned a reputation as a leading provider of family office services.
Eaton Vance said that this acquisition will provide an additional dimension to Eaton Vance Investment Counsel’s (EVIC) wealth management services.
EVIC, a subsidiary of Eaton Vance, serves high-net-worth individuals and families and managed approximately $4bn of assets as of 31 December 2010.
EVIC offers investment management and counseling services to individuals, trusts and foundations through a team of 18 investment counselors.
The terms of the transaction were not disclosed.
