July 21, 2011

Sense of the markets: Munder Capital hunts for targets

This July 15, 2011 article by Paula Schaap in The Deal Pipeline discusses Munder Capital's plans to acquire investment management firms and more generally describes the consolidation trend in the industry.  To read this article, please click here (PDF reader required).

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July 20, 2011

Rosemont Takes Minority Stake in Westmount

On July 18, 2011, pionline.com reported that Rosemont Investment Partners had made a minority investment in Los Angeles, California-based investment advisor Westmount Asset Management.

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July 15, 2011

Jovian Sells ETF Business to Mirae

On July 15, 2011, Jovian Capital Corporation (TSX:JOV) announced that it had agreed to sell its exchange traded fund business to Mirae Asset Global Investments Co., Ltd.

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July 15, 2011

CIBC to Acquire 41% Stake in American Century Investments

On July 15, 2011, American Century Investments announced that CIBC had agreed to purchase JPMorgan Chase & Co.’s 41% stake in the company for approximately $848 million.

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July 14, 2011

nabInvest Acquires Stake in Altrinsic Global Advisors

On July 14, 2011 NabInvest, the asset management business of National Australia Bank, announced the acquisition of a minority interest in Connecticut-based global equities fund manager Altrinsic Global Advisors.

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July 13, 2011

Apollo Acquires Gulf Stream Asset Management

On July 8, 2011, Apollo Global Management (NYSE: APO) announced the acquisition of Gulf Stream Asset Management, which will expand its senior loan business.

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July 11, 2011

Mercer Acquires Evaluation Associates

On June 30, 2011, Mercer Investment Consulting, a wholly owned subsidiary of March & McLennan Companies (NYSE: MMC), announced its acquisition of Norwalk, Connecticut-based investment consulting firm Evaluation Associates.

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July 11, 2011

REYL & CIE Acquires Solitaire Wealth Management

On July 8, 2011, Geneva-based REYL & CIE announced the opening of a new branch in Zurich with the acquisition of independent asset management firm Solitaire Wealth Management Ltd.

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July 11, 2011

Freeman & Co. Financial M&A, Mid-Year 2011

On July 5, 2011, Freeman & Co. announced its semi-annual report on financial industry M&A activity in the first half of 2011, reporting that "big asset management deals are down, but mid-sized deals are growing." For more information and to request a copy of the report, click here.

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July 8, 2011

Brompton Sells Fund Management Contracts to Aston Hill

On July 5, 2011, Brompton Corp. announced that it had agreed to sell contracts to Aston Hill Financial Inc. to manage seven TSX-listed closed-end funds.

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