HighMark Capital Management Inc. (HCM) has completed its adoption of the Bailard Opportunity Funds. The deal, which was greenlighted by shareholders on March 30 and completed on April 3, sent the Bailard funds to three newly-established series of HighMark Funds, a Massachusetts business trust.

With the transaction, San Francisco-based HCM is now the investment adviser and administrator to the funds with Bailard serving as subadviser.

Bailard's International Equity Fund will take on the name International Opportunities Fund under the HighMark banner. The other adopted funds from Bailard are Enhanced Growth and Cognitive Value.

The deal provides additional investment options for HighMark Funds shareholders and boosts HighMark's distribution opportunities nationwide, said Earle Malm, president and chief executive of HCM, a subsidiary of Union Bank of California.

For Bailard, the deal enables the Foster City-based firm to focus on managing investments and developing products, said chief investment officer Peter Hill.

HighMark Funds now encompasses 21 funds with over $7 billion in assets. 

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