Sales of asset managers slowed in the most recent quarter after an 18-month surge as fewer independent and foreign-owned firms changed hands, according to Sandler O'Neill & Partners LP.

The New York investment bank remains bullish on the prospects for asset management deals because, it says, a lot of financial conglomerates and aging owners of the businesses are weighing sales.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.