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Boston Private Financial Holdings Inc. on Dec. 19 agreed to sell its entire ownership interest in Anchor Capital Advisors LLC to the management team of Anchor for an upfront cash payment and a nonvoting, revenue share participation interest in Anchor.
Expected to close in the first quarter of 2018, the transaction will result in Anchor being majority-owned by members of its management team. A Lincoln Peak Capital Management LLC affiliate will buy a minority interest in Anchor alongside management as part...