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Asset Management M&A Up 33% in Third Quarter

By Editorial Staff

October 7, 2008

The credit crisis fueled a substantial 33% increase in asset management mergers and acquisitions in the third quarter, compared to 3Q07, Jefferies Putnam Lovell announced Tuesday. There were 69 M&A deals across the globe, up from 52 a year earlier.

 

Of these deals, divestitures accounted for 40% of the deals, up from 23%. The total assets under management in deals worth $6.4 billion neared $1 trillion, more than triple the $300 billion of the $6.1 billion worth of deals in the third quarter of 2007.

 

“As we anticipated, tremors transforming the global financial landscape have served as a catalyst to asset management deal flow,” said Aaron Dorr, a managing director with Jefferies Putnam Lovell. Cash-strapped financial institutions are likely to step up their sales of asset management firms to “grapple with investor redemptions and lack of liquidity,” Dorr said.


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