Mergers and acquisitions among asset management firms will remain high in the second half of the year, according to Putnam Lovell. While the market turbulence won’t deter most buyers, however, it, along with a curtailed leveraged finance industry, could curtail some private equity firms.
In the first half of the year, there were 114 M&A deals valued at $33.7 billion, with the acquired firms having $1.24 trillion in assets under management. That’s a 31% increase in the number of deals from the first six months of 2006, when there were 87 such transactions. And the value of the deals increased 142%, from $13.9 billion a year ago.