By Michael Dabaie

Federated Investors said it would acquire certain components of PNC Capital Advisors LLC's investment-management business from PNC Financial Services Group.

Federated will pay PNC an estimated total purchase price of $52 million when the transaction is completed, which is expected in the fourth quarter.

The proposed transaction includes the reorganization of PNC's liquidity, equity and fixed-income mutual funds into corresponding Federated mutual funds, the acquisition of a portion of PNC's separate account and separately managed account business, and the transition of a six-person international equity management team from PNC to Federated.

The deal includes about $9 billion in liquidity assets, $4.2 billion in equity assets and $700 million in fixed-income assets.

Write to Michael Dabaie at michael.dabaie@wsj.com