Money manager M&A
News and video about Money manager M&A from Pensions & Investments
Santander deal settles question on fate of Pioneer
trueThe announcement last month that UniCredit Group and Banco Santander are set to merge their money management divisions put an end to months of speculation over the future of Pioneer Investments.
Consolidation, move to passive mean big gains for largest firms
trueTotal worldwide assets under management of large money managers rose 114% in the 10 years ended Dec. 31, while total assets of the smallest firms dropped 40% during the same period, an analysis of data from Pensions & Investments' annual money manager surveys show.
Firms in Japan and China ready for overseas acquisitions
trueA growing number of Chinese and Japanese firms are looking to invest in overseas asset management firms, with analysts and bankers predicting Chinese companies might prove to have the bigger appetite over the next few years.
AMG's assets gain 2% in first quarter on continued net inflows
trueAffiliated Managers Group reported total assets under management of $632.2 billion as of March 31, up 2% from three months earlier and up 6.4% from a year earlier, the company said in its earnings statement Tuesday.
State Street Global Advisors AUM flat in quarter, reports $38 billion in net outflows
trueState Street Global Advisors reported $2.44 trillion in assets under management as of March 31, down 0.2% from Dec. 31 but up 2.6% from March 31, 2014.
GSAM agrees to buy Pacific Global Advisors
trueGoldman Sachs Asset Management agreed to acquire Pacific Global Advisors from Pacific Life Insurance Co.
Hillspire acquires 20% stake in D.E. Shaw Group
trueHillspire, the family office of Eric Schmidt, executive chairman of Google, acquired a 20% passive ownership stake in D.E. Shaw Group, a hedge fund and alternative investment manager.
Pioneer and Santander to merge
truePioneer Investments and Santander Asset Management will merge to create a €353 billion ($381.6 billion) global money manager.
PwC: Improved valuations, market optimism drives M&A deal activity in 2014
trueThe stabilization of valuations, a fragmented asset management market and the attractiveness of minority investment sales influenced merger and acquisition deal activity within the money management industry in 2014, said a report by PricewaterhouseCoopers.
Orix Corp. in talks to buy U.S. money manager
trueOrix Corp., one of Japan's most acquisitive financial firms, is in early talks to purchase a U.S. fund manager as part of efforts to double its assets under management, CEO Makoto Inoue said.
Money manager M&A activity plummets in first quarter
trueMoney manager mergers and acquisitions activity in the first quarter decreased sharply from the previous quarter, with total assets in transactions at $83.9 billion — down more than 80%. Assets in transactions also were down around 73% from the first quarter of 2014.
Blackstone, Corsair in talks to buy stake in First Eagle Investment Management
trueBlackstone Group and Corsair Capital are in advanced talks to purchase a major stake in First Eagle Investment Management.
Highland Capital acquires ICC Capital Management
trueHighland Capital Management LLC acquired the assets of ICC Capital Management.
Cordea Savills to acquire SEB Asset Management
trueCordea Savills, a London-based real estate investment manager, will acquire Frankfurt-based SEB Asset Management for up to €21.5 million ($23.3 million), pending regulatory approvals.
Brevan Howard buys minority stake in Penso Advisors
trueBrevan Howard Capital Management acquired a 25% stake in New York money manager Penso Advisors.