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Mergers & Acquisitions

News

Industry Highlights and Trends

The industry saw Bill Gross attracting $769 million to Janus, the global ETP market breaking an asset record, a prediction on how much of 401(k) contributions that target-date funds will capture by the end of the decade and a J.P. Morgan executive joining Wilton, Conn.,-based Commonfund as CEO.

Leading John Hancock to New Ground

John Hancock Investments president and CEO Andrew Arnott discusses the strategic decisions the firm made as it reengineered itself following its 2004 acquisition by Canadian insurer Manulife Financial, the challenges facing asset managers in answering alternative investment demand and even potential competition from non-traditional players entering the asset management space.

Industry Highlights and Trends

The industry saw ETF inflows break a record, Russell Indexes liquidating a fund and mergers between asset manager service providers.

CIBC Considering Offer for LSE’s Russell Asset Management Unit?

Canadian Imperial Bank of Commerce is weighing a bid for Frank Russell Co.’s asset management arm, a business the London Stock Exchange Group is preparing to sell early next year, people with knowledge of the matter said.

Man Group Buys Merrill Lynch’s $1.2 Billion Fund of Hedge Funds

Man Group, the largest publicly traded hedge fund manager in the world, will buy fund-of-hedge funds assets from Merrill Lynch Alternative Investments to expand in the U.S. The London-based firm will acquire the contracts to manage Merrill’s $1.2 billion multi-strategy investments, and will pay Merrill Lynch $2.9 million when the deal closes and 35% of the management fees generated annually for five years, not to exceed $30 million.

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Articles

Executive Briefing

Goldman Sachs Asset Management (GSAM) announced it has entered into an agreement with Deutsche Asset & Wealth Management (DeAWM) to acquire DeAWM's stable value business, with total assets under supervision of $21.6 billion as of June 30, 2013

Private Equity Boosts Mutual Fund M and As

Asset management mergers and acquisitions are on the rise and all signs are pointing to another healthy year for deal activity.

Executive Briefings

It looks like Nationwide Mutual Insurance Company will have its day in court come January 2014 to defend itself against a mutual fund lawsuit.

Executive Briefs

Broadridge Financial Solutions has agreed to acquire Bonaire Software Solutions, a provider of fee calculation, billing, and revenue and expense management solutions for asset managers including institutional asset managers, wealth managers, mutual funds, bank trusts, hedge funds and capital markets firms.

Executive Briefings

Franklin Resources has acquired the remaining 80% stake of alternative investments specialist Pelagos Capital Management.

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