The US bets on the purchase of asset managers
US firms step up their offensive against the European asset management sector, with acquisition spending reaching its highest level in decades, while the continent's fund groups struggle to strengthen and expand globally.
US firms are intensifying their takeover offensive in the European asset management sector, with acquisition spending reaching its highest level in decades. According to Dealogic, US acquisitions of European asset and wealth managers have surpassed $14 billion so far this year, the highest figure since at least 1995. European asset managers face pressure from low-cost passive funds and increasing regulation, making them more vulnerable to US takeovers.
US private equity firms, insurers, and rival fund groups are among the buyers this year. Baillie Gifford's CEO Tim Campbell and DWS's CEO Stefan Hoops cited scale and cost pressures as drivers of consolidation in the sector.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
