Merger and acquisition (M&A) activity in the asset management industry is booming, and demand is not likely to stop anytime soon, nor are the competitive prices buyers are willing to pay for the deals. However, market turmoil and a more challenging leveraged finance environment could temporarily cool the enthusiasm of some private equity shops for asset managers and derail initial public offerings,

Long-term globalization and demand for alternative investment management products and skills have been fueling the trend, according to the report "The Long and Short Of It" by Putnam Lovell of New York, a division of Jefferies.

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