Asset management deal activity rose during the first four months of this year as compared to a year earlier, according to a new report by Freeman & Co.

Freeman & Co. reported Tuesday that 51 asset management deals were announced globally in the first four months of 2013, representing a 12% annualized increase over 2012 and marking the second year of double-digit growth in deal activity.

“The asset management landscape is evolving,” statedEric Weber, managing director and chief operating officer at Freeman & Co. “Private equity firms are focused on becoming asset managers; large long-only and traditional managers are becoming multi-asset solutions providers; and other creative asset managers are focused on defining a niche. As these firms converge, we could see as many as 150 asset management transactions in 2013.”