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Voya Investment Management Completes Acquisition of the Investment Advisory Business of Tygh Capital Management

Voya Investment Management Completes Acquisition of the Investment Advisory Business of Tygh Capital Management

Voya Investment Management, the asset management business of Voya Financial, Inc., has completed its previously announced acquisition of the investment advisory business and certain other assets of small-cap growth specialist Tygh Capital Management (TCM).

“I’d like to welcome the entire TCM team to Voya”

Founded in 2004 in Portland, Oregon, TCM specializes in small-cap and small/mid-cap growth investing for both institutional and retail investors. The team manages the TCM Small Cap Growth Fund (Ticker: TCMSX) (“TCM Fund”) with $529 million in assets, as of Dec. 31, 2021.

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All of TCM’s employees have joined Voya IM, including Richard Johnson (CEO and CIO), Jeff Curtis (president and CFO), and the portfolio management team of Michael Coyne, CFA; Scott Haugan, CFA; and Mitchell Brivic, CFA. The TCM investment team will remain in Portland and has become part of Voya’s Equities investment platform, with Johnson and Curtis reporting jointly to Vincent Costa and Michael Pytosh, co-CIOs of Equities at Voya IM. The TCM team will continue to follow its proven investment philosophy and process while leveraging Voya’s distribution capabilities and robust platform. Current clients in these TCM strategies will continue to have the team manage their assets at Voya IM.


“I’d like to welcome the entire TCM team to Voya,” said Christine Hurtsellers, chief executive officer, Voya IM. “Their investment skills and client-focused approach will enable our clients to reach their next-level of investment success.”

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The TCM Fund filed a supplement to its prospectus disclosing that the board of the TCM Fund has approved Voya Investment Management Co. LLC as the interim advisor to the Fund effective simultaneously with the closing of the transaction, pursuant to an interim investment advisory agreement to enable the TCM investment team to continue managing the Fund. The supplement also described the board’s approval of a proposed reorganization of the TCM Fund, subject to shareholder approval – into Voya Small Cap Growth, a new mutual fund, anticipated in the second quarter of 2022.

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