The combined firm will have over $4bn in assets under management across the fixed income, active equity and alternatives spectrum.
The CEO of the combined firm will be Scott Roberts, CEO of Ziegler Capital.
The combined firm is expected to be called Ziegler Lotsoff Capital Management and their headquarters will remain in Chicago.
Ziegler Capital in a statement said: "This is an exciting opportunity to bring together the strong investment management skills and decades of industry experience that both firms have to offer.
Our portfolio management teams will remain in place for our clients and will now be able to add significant infrastructure and resources to their areas of expertise. We are very optimistic about the future of the new firm," statement added.
