An institutional asset management unit of Germany's fourthlargest bank, WestAM now owns Houston-based Criterion InvestmentManagement and Chicago-based Forstmann-Leff International. "It wasa coincidence finding two very strong companies there," PeterTaggart, WestAM's US marketing director, told GlobeSt.com.

Taggart says the Gulfstream purchase fits into a "shopping list"of US buyouts. WestAM is negotiating to cut other deals with a halfdozen equity firms nationwide. He says WestAM is aggressivelyseeking a US equity management company to add to its portfolio.

The 10-year-old Gulfstream, which will have its name changed toWestAM, will maintain an independent investment division whilesales, marketing and operations will be handled by WestAM. The dealrequires regulatory approval which, says Taggart, should berendered within 60 to 90 days. A Federal Reserve approval will putWestAM in charge of about $2 billion in international equity assetson behalf of institutional clients, as well as $2.8 billion inregional European and Asian mandates. WestAM manages $33 billion inassets for more than 500 institutions worldwide, includingcorporations, public funds, Taft-Hartley funds, endowments andfoundations, banks, and insurance companies.Reiner M. Triltsch,Gulfstream's managing director, will become product CIO forWestAm's international equities.