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Aberdeen Asset Management to buy SWIP from Lloyds
trueAberdeen Asset Management will acquire Scottish Widows Investment Partnership Group and its related private equity and infrastructure fund management businesses from Lloyds Banking Group under a long-term agreement.
Blacktone's Schwarzman regrets selling BlackRock in 1994
trueSteve Schwarzman said his decision 19 years ago to sell what would become the world's largest money manager was a “heroic” mistake.
New York Life Investments buys Dexia Asset Management for €380 million
trueNew York Life Investments acquired Dexia Asset Management for €380 million ($513 million).
Legg Mason sells value equity unit in MBO
trueLegg Mason sold Private Capital Management, a value equity subsidiary based in Naples, Fla., to PCM management. Terms were not disclosed.
Friess employees to buy back firm from AMG
trueFriess Associates, the adviser for the Brandywine mutual fund family, will become a 100% employee-owned firm after announcing its employees will buy the 70% stake owned by Affiliated Managers Group.
Amundi buys Smith Breeden for U.S. expansion
trueAmundi agreed to acquire Smith Breeden Associates, a fixed-income specialist with about $6.3 billion in mostly institutional assets under management.
Legal & General, like Aberdeen, not interested in SWIP purchase
trueLegal & General Group ruled out bidding for Lloyds Banking Group's Scottish Widows Investment Partnership as it posted first-quarter cash flow that beat analysts' estimates.
AXA spins off AXA Private Equity
trueAXA Group will sell its subsidiary AXA Private Equity to a group led by management, employees and external investors.
Investec Asset Management staffers buy 15% stake for $269 million
trueInvestec Asset Management CEO Hendrik du Toit and about 40 senior managers and employees will buy a combined 15% stake in the firm for £180 million.
TCW gets new board as Carlyle takes ownership reins
trueTCW Group has a new board of directors as part of the closing of a sale Wednesday to Carlyle Group and company employees from French bank Societe Generale.
KKR buys 25% stake in Nephila
trueKKR made a minority interest investment in Nephila Capital, a money manager that invests in reinsurance risk, including natural catastrophe and weather risk.
Dyal Capital buys stake in multistrategy hedge fund manager Halcyon
trueHalcyon Asset Management sold a 20% passive minority stake to Dyal Capital Partners.
BNP Paribas Clean Energy Partners to become Glennmont Partners after MBO
trueBNP Paribas Investment Partners agreed to a management buyout of BNP Paribas Clean Energy Partners, which will be renamed Glennmont Partners.
TCW-Carlyle deal could be stalled by judge over EIG claim
trueA federal judge in California is expected to decide later this week whether the buyout of TCW Group by its management and private equity manager Carlyle Group can continue.
Old Mutual Asset Management sells 5 affiliates to their management
trueOld Mutual Asset Management on Thursday announced it agreed to sell five of its affiliate money management firms — including Analytic Investors — to each of their senior management teams.