Saturday, 18 April 2015
Last updated 15 hours ago
Apr 2 2008 | 12:20pm ET
Mergers and acquisitions in the global asset management industry from January to March were at an all-time high despite a worldwide slump in capital markets.
According to preliminary figures from Jefferies Putnam Lovell, the division of Jefferies Group focused on the asset management and financial technology industries, 53 asset management deals were announced in the first quarter of 2008.
The acquired assets under management totaled $704.6 billion and the disclosed deal value of those transactions was approximately $9.6 billion.
In the first quarter of last year; by contrast, 45 deals were announced, representing $544.9 billion in acquired assets under management, and $10.4 billion in disclosed deal value, according to Jefferies.
Asset management merger deals that made headlines in Q1 2008 include Ping An Insurance's bid to acquire 50% of Fortis' asset management business, the largest cross-border deal by assets under management in fund management history, and Halcyon Asset Management's proposal to go public through an acquisition by Alternative Asset Management Acquisition Corp. a special purpose acquisition company.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…