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,
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.
The staff of Money Management Executive ("MME") has prepared these capsule summaries based on reports published by the news sources to which they are attributed. Those news sources are not associated with MME, and have not prepared, sponsored, endorsed, or approved these summaries.
