Twelve money management deals took place in the third quarter of 2022. In the third quarter of 2021, there were 32 transactions. Assets under management involved in the latest quarter’s transactions totaled $422.2 billion, down 74% from $1.65 trillion in the previous quarter.
In the third quarter, Perpetual agreed to acquire Pendal Group for $1.7 billion, with Perpetual paying A$6.54 per Pendal share. Goldman Sachs Group paid $1.8 billion in cash to acquire NN Investment Partners. With the addition of $305 billion in assets under supervision, its firmwide AUS reached a record of $2.5 trillion. CVC Capital Partners paid $346 million for a 68.35% stake in Affin Hwang Asset Management from its parent company Affin Hwang Investment Bank and senior executives, and the stake would be transferred to CVC Capital Partners Asia Fund V.
Voya Investment Management agreed to acquire Czech Asset Management with an undisclosed amount that is not material to Voya’s financial position. Pzena Investment Management Inc. is becoming a private company in a $795 million all-cash transaction through a merger with its subsidiary. The current class A shareholders will receive a 49% premium at $9.6 per share.