Acquisitions of money management firms worldwide for the first six months of this year were up 10% over the same period in 2003, with 79 acquisitions as of June 30, according to a Freeman & Co. report. Worldwide assets under management acquired through mergers and acquisitions tumbled 22% to $137 billion, while the average deal size dropped 29% to $1.7 billion. The latest numbers reflect a focus on acquiring alternative asset managers — a trend that Freeman predicts will continue during the second half of this year.
By region, there were 41 acquisitions involving U.S. companies for the first half of this year, up from 31 for the same period a year earlier, while European activity slipped to 26 deals, from 32.
Freeman & Co. is a management consultant and strategic adviser to the financial services industry.