With assets finally picking up at money management firms, a wave of mergers and acquisitions, or selective buy-outs, is about to take place, Business Week reports. Following Lehman Brothers’ announcement last month that it will purchase Neuberger Berman and Charles Schwab’s acquisition of State Street’s private client business, Citigroup is now in the market and Janus might be a likely target.

Stocks of publicly traded money managers have risen 24.5% so far this year, according to Keefe, Bruyette & Woods. But not everyone thinks investment managers are good buys for individual investors or acquirers; some warn the market is saturated and regulators’ tough oversight is causing tremendous pressures. That may result in fewer deals like Lehman’s $2.625 billion purchase of Neuberger but, rather, acquisitions of boutique firms, Eric Weber, a consultant with investment banking firm Freeman & Co., told Business Week.

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