Van Kampen Investments
| Company type | Subsidiary |
|---|---|
| Industry | Mutual fund |
| Founded | 1 January 1974 in Chicago, United States |
| Founder | Robert Van Kampen |
| Fate | Acquired by Invesco; brand retired |
| Headquarters | Chicago , United States |
| Parent | Invesco (from 2009) |
Van Kampen Investments, Inc.—also known as Van Kampen Funds, Inc. or Van Kampen American Capital—was a U.S.-based mutual fund firm. After its acquisition by Morgan Stanley in 1996, a significant portion of Morgan Stanley's asset management services operated under both the Morgan Stanley and Van Kampen labels.
On October 19, 2009, Morgan Stanley revealed plans to sell Van Kampen to Invesco for $1.5 billion. Subsequent to this transaction, Invesco retired the Van Kampen brand.
History
Established in Chicago in 1974 by Robert Van Kampen, the firm was a trailblazer in offering insurance for tax-exempt bond funds, thereby carving out a specialized position within the bond market. The near-default crisis of New York City in 1975 increased investor interest in Van Kampen’s insured unit investment trusts. By 1982, the company launched record-setting Insured Municipal Income Trusts (IMITs) valued at $125 million and $128.5 million. Operating as Van Kampen Merritt, Inc. by 1983, it had distributed nearly $7 billion in trusts, ranking it third among firms in this domain.
In 1984, Xerox Corporation acquired Van Kampen for roughly $200 million. By 1992, as Xerox began divesting its financial services divisions, it sold an 80% stake in Van Kampen to Clayton, Dubilier & Rice for about $360 million, while retaining the remaining shares alongside company personnel.
Morgan Stanley purchased Van Kampen American Capital Inc from Clayton in 1996 for $745 million with the intent to broaden its money management offerings. Although integrated into Morgan Stanley’s operations, the Van Kampen name was preserved.
After being sold to Invesco in 2009, Van Kampen funds’ boards were dissolved and the brand was gradually phased out by July 2012.