Guardian Capital completed the acquisition of Sterling Capital from Truist Financial for $70m.

Guardian Capital, a private equity firm, completed the acquisition of Sterling Capital, an independent investment manager, from Truist Financial, a bank holding company, for $70m. "We believe the strategic addition of Sterling Capital is an exciting opportunity to expand our US business growth plans. Sterling Capital's cultural alignment paired with its high-quality business accelerates Guardian's expansion into the US market. We are optimistic about the growth potential of the combined entity," George Mavroudis, Guardian President and CEO.