Thirty-two money management deals took place in the second quarter of 2022. In the second quarter of 2021, there were 20 transactions. Assets under management involved in the latest quarter's transactions totaled $1.65 trillion, up 103% from $811.5 billion in the previous quarter.
The dramatic increase in AUM was largely driven by Brookfield Asset Management's plan to spin off 25% of its stake in the asset management business at an $80 billion valuation.
In the second quarter, Voya Financial agreed to acquire most of Allianz Global Investors' U.S. investment management business, and AllianzGI would acquire up to a 24% stake in Voya Investment Management.
CI Financial announced its plan to list 20% of its $133 billion U.S. wealth management business publicly.