Money manager mergers and acquisitions activity in the third quarter decreased more than 80% from the previous quarter, with assets involved in the transactions totaling $154.6 billion. Assets fell 41% from the third quarter of 2015.
19 money management deals took place in the third quarter, down from 22 in the previous quarter. In the third quarter of 2015, there were 21 transactions.
Dyal Capital Partners was involved in the three largest deals in the quarter. The private equity firm took minority stakes in Starwood Capital Group LLC, Silver Lake and H.I.G. Capital. Dyal has taken more than 15 stakes in money mangers over the past four years. Also in the quarter, Wells Fargo Asset Management agreed to purchase Analytic Investors LLC.
During the third quarter, there were 11 deals that did not involve money managers. BATS Global Markets' time as a listed company is quickly coming to an end with its proposed takeover by CBOE Holdings. BATS had gone public in April. Further diversifying its business, TIAA-CREF bought EverBank Financial Corp., an Internet bank based in Florida.
All information is based on transactions reported by Pensions & Investments' global reporting staff.