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Alternative Market Briefing

Freeman & Co: 32% more asset management M&A transactions so far this year

Tuesday, July 02, 2013

Benedicte Gravrand, Opalesque Geneva:

This time last year, problems with European economies overshadowed much of the progress made in the global rehabilitation of the financial industry, states Freeman & Co., a boutique M&A advisory firm based in New York. But now, there are signs of recovery and renewed confidence.

Indeed, in the first half of 2013 (1H-13), the number of M&A transactions whithin the asset management industry increased by 32% (from 57 in 1H-12 to 75 in 1H-13), and had twice as many +10bn deals as in 1H-12 (20 deals compared to 10). Transactions so far this year represent $1.2tln of AuM, an increase of 156% over 1H-12’s $468m ($1.4tln for the full 2012). There were 42 transactions in the U.S. (up 31% from 32 in 1H-12) and 29 in Europe (up 71% from 17 in 1H-12).

M&A activity among broker dealers, financial technology, specialty finance and private equity in financial services remained subdued, but should normalise by the end of the year.

"2013 is a year of refocusing. Large asset managers are focusing on solutions and broadening capabilities. Broker‐dealers are focusing on consolidation, with a new group of middle market firms taking the lead, and in specialty finance appetite for acquiring niche consumer lending companies continues. We expect activity to accelerate throughout 2013, increasing 10‐20% in the second half of the year," says Eric Weber, Managing Director ......................

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