Manage the Indexes

The last time anyone in the extended Collier family in Naples invested in a money management firm, it paid off big.

So it's noteworthy that another branch of the Collier family — this time, the Sproul family — recently announced it acquired a controlling stake in Antonetti Capital Management in Naples. Terms of the deal were not disclosed.

The investment brings to mind the Miles Collier family's Private Capital Management, a hugely successful money management firm in Naples that at one time managed as much as $31 billion and was sold to Legg Mason in 2001 for nearly $1.4 billion. Private Capital's stock-picking prowess lasted through two decades until the recent economic downturn slashed returns.