Asset manager merger and acquisition deals were up a record 30% from the same period last year, according to MarketWatch. In the first half of this year, Putnam Lovell NBF Securities, recorded 112 M&A deals, compared to 86 deals in the first six months of 2006.
The value of deals, through both company disclosures and estimates, more than doubled to $32.3 billion through June 2007. Also, the amount of assets under management by managers increased by almost a third to $1.26 trillion.
“Clearly, asset management M&A is surging worldwide, with dealmaking in the first half of the year comparable to the entire 12-month period in 2000, the bull market high-water mark for transaction in the global investment management industry,” said Ben Phillips, managing director at New York-based Putnam, in a statement.
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