| Ranked by value of deal. All amounts are in U.S. dollars. |
|
| Pioneer Investments, Milan | $234.0 | 100% | Amundi | $3,740 | Assuming this latest iteration of UniCredit's six-year saga trying to sell Pioneer Investments succeeds, Amundi will become the eighth-largest asset manager globally and cement its position as a European leader. |
| Janus Capital Group, Denver | $195.0 | 100% | Henderson Global Investors | $2,600 | As pressure grows from low-fee passive investments, Janus and Henderson merge to form a global investment management firm with complementary distribution strengths and products. |
| Banca della Svizzera Italiana (BSI), Lugano, Switzerland | $88.9 | 100% | EFG International | $1,340 | Consolidation of Swiss private banking takes a further step forward with the combination of EFG and BSI, which troubled Brazilian investment bank BTG Pactual was forced to sell after only a year of ownership. |
| Santander Asset Mgmt., Madrid | $183.0 | 50% | Banco Santander | $1,300* | Warburg Pincus and General Atlantic exercise early their 2018 option to sell back to Banco Santander the 50% of Santander Asset Management they had purchased in 2013. |
| Towry, London | $12.8 | 100% | Tilney Bestinvest | $855 | Palamon Capital Partners exits its highly successful 13-year rollup of U.K. private wealth firms by selling to Tilney Bestinvest, a similar rollup backed by private equity investor Permira Funds. |
| Petershill Fund I interests, New York | $55.0 | Var. | Affiliated Managers Group | $800 | Underlining the difficulty of exiting minority equity positions in individual hedge fund managers, Goldman Sachs’ Petershill Fund I sold in a package deal its remaining investments – Winton Capital Group, Capula Investment Management, Partner Fund Management, Mount Lucas Management and CapeView Capital. |
| AssetMark Financial Holdings, Concord, Calif. | $29.3 | 100% | Huatai Securities | $780 | China-based Huatai Securities makes its first U.S. investment, buying a leading turnkey asset management program providing investment solutions to financial advisers. It also enabled private equity investors Genstar Capital and Aquiline Capital Partners to make a profitable exit. |
| H.I.G. Capital, Miami | $20.0 | 15%* | Dyal Capital Partners III | $675* | Structured as an evergreen fund to sidestep the "exit" issue, Neuberger Berman's Dyal Capital Partners III, a $4 billion-plus fund, has already made five minority investments in private equity managers of which this is the largest. |
| EnTrust Capital, New York | $12.0 | 100% | Legg Mason | $675* | Legg Mason doubles down on its prior investments in Permal Group (2005) and Fauchier Partners (2013) by combining them with Gregg Hymowitz's EnTrust Capital, forming the industry’s fifth-largest hedge-fund-of-funds company. Mr. Hymowitz received $400 million and 35% of the combined EnTrustPermal. |
| Clarion Partners, New York | $40.0 | 83% | Legg Mason | $585 | Legg Mason gets a premier U.S. direct real estate investment platform, while private equity investor Lightyear Capital exits its position after supporting management’s $100 million buyout from ING Group in 2011. |
| *Estimated. Source: Cambridge International Partners |
