5 Most Interesting Asset Manager Acquisitions in 2015
SWFI staff excludes acquisitions of asset managers focused on private wealth management as well as joint venture buyouts. There was a strong focus on asset managers looking to enhance alternative asset capabilities, as well as wealthy owners and principals looking to cash out.
5.) Legg Mason Acquires RARE Infrastructure Limited
Baltimore-based Legg Mason, Inc., an owner of several investment boutiques and managers (Brandywine Global, ClearBridge Investments, Martin Currie, the Permal Group, QS Investors, Royce and Associates and Western Asset Management), acquired a 75% stake in Australia-based RARE Infrastructure, Ltd. back in July. Founded in 2006, RARE is big on the listed infrastructure scene, touting many large institutional investors such as superannuation funds as clients. The deal highlights asset managers anticipating growth in the liquid alternatives space. RARE’s management team will retain a 15% stake and Sydney-based Treasury Group Limited, a previous minority shareholder retained a 10% stake. UBS Investment Bank advised RARE Infrastructure on the deal.
4.) Aberdeen Looks to Get in on Liquid Alternatives
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