KPMG Investment Management M&A Monthly


June 2010	SEARCH ANALYSIS ARCHIVE FEEDBACK

KPMG ANALYSIS

Financial Services Executives Survey: Executives Bullish on Recovery

Despite uncertainties surrounding impending financial reform, financial services executives are optimistic about business prospects and are investing for long-term growth, including through mergers and acquisitions.

Transformation - The Future of Alternative Investments

The majority of institutional investors intend to increase their allocations to alternative investments in the next three years, extending influence over the shape of the industry.

Center of Attention! - Focusing on New Strategies

As markets continue to recover from the financial crisis, it is imperative that customer centricity is at the core of new and developing strategies.

Feature of the Month

Man-GLG Deal Signals Start of Hedge Fund M&A Wave

Man Group's $1.6 billion takeover of GLG Partners is likely to signal the start of a wave of mergers in a fragmented hedge fund industry still struggling to rebuild asset levels after the crisis.

NEWS FROM REUTERS

Henderson Drops Talks to Buy SunTrust Assets

Anglo-American asset manager said it has pulled out of talked to buy boutiques from U.S bank due to a number of strategic, operational and financial factors.

BNY Mellon Asset Says Eyes Expansion in India

The world's leading asset servicer is looking to expand its business into India, in the latest stage of its plan to boost its presence in Asia.

Neuberger Berman, Proudly Private, Seeks an IPO

Even as Neuberger Berman celebrates its first year as a private and independent firm, the money manager's executives are moving toward an initial public offering.

JPMorgan Eyes Brazilian Hedge Fund

New York-based bank is in advanced discussions to buy Brazilian asset management company managing $5.3 billion of assets.

HSBC in Talks to Sell Private Equity Arms

British bank HSBC is in talks that could lead to five separate management buyouts of its private equity fund management businesses as banks go back to focusing on core operations.

Other News

Emerging Markets Go From Niche to Mainstream

Many institutional investors are fundamentally rethinking their approach to emerging markets.

Man Group CEO Rules Out Big Deals After GLG Buy

REUTERSHedge fund firm Man Group is not looking for further big acquisitions after its $1.6 billion purchase of GLG Partners last month.

INDUSTRY M&A ACTIVITY

BNY Mellon acquired I(3) Advisors, a Toronto-based independent wealth strategy company with more than $3.4 billion in assets under management. Terms were not disclosed. (6/18)

Fiserv, a financial technology company, acquired AdviceAmerica, a provider of financial planning software for asset managers and wealth advisors. Terms were not disclosed. (6/8)

Trident Trust Group, a U.S.-based provider of corporate, trust and fund services, acquired Singaporean Commerzbank International Trust (CITS) from Commerzbank AG. CITS reported $930 million of asset under administration at the end of 2009. Terms were not disclosed. (6/1)

Source: Company press releases.

MERGER STATISTICS

Overall deal volume has declined 25 percent during the last twelve months when compared to the prior year period. However, excluding the impact of the $13.5 billion BlackRock-BGI deal in June 2009, total deal value disclosed has increased 52 percent during this period due to several notable divestiture transactions, including Invesco's purchase of Morgan Stanley's retail asset management business and Ameriprise Financial's acquisition of Bank of America's Columbia Management unit.

View data detail.

KPMG’S TRANSACTION SERVICES PRACTICE

KPMG’s Transaction Services and M&A Tax practices comprise over 600 partners and professionals in the United States, solely devoted to providing acquisition and divestiture support and advisory services to strategic and financial investors.

For more information about KPMG's transaction services capabilities in the investment management sector please contact: Miguel Sagarna, Principal at 212 872 5543 (msagarna@kpmg.com) or Brian Seidler, Director at 212 954 3217 (bseidler@kpmg.com).

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