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Lionstone Investments, a well-known Houston real estate investment firm, is moving client assets to other investment firms as the company prepares to shut down.

Lionstone's parent company, Ameriprise Financial Inc. (NYSE: AMP), said in a Nov. 5 statement that it had decided to wind down Lionstone's business after a strategic evaluation.

As of Sept. 30, Lionstone had about $5.5 billion in institutional assets, which are expected to be transitioned to other investment firms over the next several months.