Money manager mergers and acquisitions activity in the first quarter decreased sharply from the previous quarter, with total assets in transactions at $83.9 billion — down more than 80%. Assets in transactions also were down around 73% from the first quarter of 2014.
Twelve money management deals took place in the first quarter, down from 17 in the previous quarter. In the first quarter of 2014, there were 12 transactions.
The first quarter had a significant lack of institutional M&A deals. The largest acquisition target was Alger Management Ltd., which has around $22 billion in assets. La Francaise purchased a 49.9% stake for an undisclosed sum. The $83.9 billion figure for the first quarter was the lowest since 2010.
During the first quarter, nine transactions did not involve money managers. Included in those deals were the acquisition of Advent Software by SS&C Technologies Holdings for $2.7 billion and the acquisition of Hotspot FX by BATS Global Markets for $365 million. Cogent Partners was acquired by Greenhill & Co. for up to $97.6 million.
All information in this analysis is based on transactions reported by Pensions & Investments' global reporting staff.