Money manager mergers and acquisition activity in the first quarter was flat from the previous quarter — with total assets in transactions standing at $305.5 billion — but down more than 55% from the first quarter of 2013.
All information in this analysis of money manager M&A activity is based on transactions reported by Pensions & Investments’ global reporting staff.
The 12 money management deals in the first quarter represented an increase from the previous quarter, when there were nine. In the first quarter of 2013, there were 26 transactions.
BMO Global Asset Management’s purchase of F&C Asset Management PLC, which had about $136 billion in assets under management when the deal was announced, was the largest transaction in the quarter measureF&C Asset Management PLCof F&C Asset Management PLC, which had about $136 billion in assets under management when the deal was announced, was the largest transaction in the quarter measured by AUM.
Also of note in the quarter was Standard Life Investments Ltd.’s purchase of Phoenix Group Holdings’ Ignis Asset Management unit, which has around $98 billion in assets under management.
During the quarter, five transactions did not involve money managers. Included in those deals was the acquisition of Institutional Shareholder Services Inc. from MSCI Inc. by Vestar Capital Partners Inc. and ISS management.