Rainier Investment Management, LLC and its predecessor organization Rainier Investment Management, Inc. (since renamed Rainier IM, Inc.) (“RIM Inc.”) have been in business since 1989, and have roots extending further back to 1973 through other predecessor organizations. The business has been independently owned and operated since 1991.
Rainier Investment Management entered into a strategic partnership with Manning & Napier, Inc., in which Manning & Napier owns a majority interest in Rainier. The transaction closed on April 30, 2016.
The investment teams of both Manning & Napier and Rainier will remain autonomous, and the transaction will not result in changes to either firm's investment process. We will continue to operate from our Seattle headquarters, and key professionals at Rainier will maintain a minority ownership stake in Rainier.
This relationship will be mutually beneficial. From Manning & Napier’s perspective, the acquisition will further diversify product offerings, enhance the firm's positioning as a provider to defined contribution plans and broaden its geographic coverage of the Western U.S. In turn, Rainier will benefit from Manning & Napier's management and financial resources, and will be supported by an expanded distribution force of more than 50 Manning & Napier professionals.
We will continue to provide the highest level of service for our valued clients, and believe our partnership with Manning & Napier will serve us well to this end.
In addition to relevant portfolio management experience, Rainier is highly experienced in providing excellent service to its institutional clients. Rainier serves as investment adviser for the Rainier Mutual Funds and the Rainier Collective Trust.