Rockland Trust announced last week it is establishing Bright Rock Capital Management, LLC, a wholly owned subsidiary dedicated to institutional investment management. The Massachusetts-based company, through its sole bank subsidiary Independent Bank Corp. (INDB), is a full-service bank with approximately $4.5 billion in assets. Now, Bright Rock will be available to the global institutional market and offer both separately managed accounts as well as mutual funds.
"In Bright Rock, we see an opportunity to provide institutional investors with direct access to industry leading and highly focused investment management capabilities across the US equity markets and beyond," David Smith, CFA, the firm's Chief Investment Officer, said in a statement.
Rockland Trust and Bright Rock Capital Management combined assets under management currently exceed $1.3 billion, and include investment management products across the U.S. equity and fixed income markets.
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