Following the agreement reached for the purchase of SRI boutique Calvert Investments in October 2016, Eaton Vance has completed the acquisition of all business assets of Calvert Investments and has launched a new subsidiary, Calvert Research and Management.

Terms of the transaction were not disclosed.

Founded in 1976, Calvert Investments had $12.1bn (€11.6bn) of fund and separate account assets under management as of 31 October 2016.

John Streur, president and CEO of Calvert Investments, has joined Calvert Research and Management in the same role. He also retains his role of president of the Calvert Funds.

The Calvert Funds are diversified and responsibly invested mutual funds, encompassing actively and passively managed equity, fixed income and asset allocation strategies managed in accordance with the Calvert Principles for Responsible Investment.

“The new Calvert Research and Management is dedicated to building on the Calvert brand and legacy to achieve global leadership in responsible investment management,” said Thomas Faust, chairman and CEO of Eaton Vance.

Eaton Vance and its affiliates managed $336.4bn (€322.5bn) in assets as of 31 October 2016.