Global money manager mergers and acquisitions, in terms of number of deals, were up 27% from a year earlier, with deals involving alternatives managers up 89%, according to investment bank Freeman & Co.
Asset management transactions increased 27% in 2010 to 227, while alternatives increased to 102 a year earlier.
The increase in alternatives manager deals marks the first time the number of such deals outpaced those involving traditional managers.
Despite the overall gain in alternatives manager M&A, Private equity transactions involving financial institutions were up 20% for the year at 107.
“(2010) marked a return to normalcy with a decline in distressed deals, an increase in asset sales to new healthy buyers and the return of growth-oriented financings and M&A,” Eric Weber, managing director and COO of Freeman & Co., said in a news release. “We expect 2011 to bring an acceleration of asset sales and a strong rebound in growth-driven deals.”