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Dyal, co-investors buy 10% stake in Providence Equity Partners
trueDyal Capital Partners and four institutional co-investors acquired a passive equity stake of about 10% in private equity manager Providence Equity Partners, confirmed two sources who spoke on condition of anonymity.
KKR acquires minority stake in BlackGold Capital Management
trueKKR & Co. will acquire a 24.9% stake in credit hedge fund manager BlackGold Capital Management.
Oak Ridge Investments repurchases minority stake from Pioneer Investments
trueOak Ridge Investments will repurchase the 49% stake in its firm that Pioneer Investments purchased in 2005, according to Pioneer spokesman Geoff Smith.
AMG acquires majority stake in Veritas Asset Management
trueAffiliated Managers Group will acquire a majority equity stake in Veritas Asset Management, said spokeswomen for the firms.
Victory Capital acquires Munder Capital, will form new firm
trueVictory Capital Holdings is acquiring Munder Capital Management for an undisclosed amount.
Legg Mason to acquire global quant manager QS Investors
trueLegg Mason agreed to acquire QS Investors, a New York-based customized solutions and global quantitative equities provider.
BMO buys F&C in $1.2 billion deal
trueBMO Financial Group is acquiring U.K. money manager F&C Asset Management in a C$1.3 billion (US$1.2 billion) deal, doubling BMO Global Asset Management's assets under management to US$269 billion.
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.