Manager M&A down but certainly not out
Deal numbers decline, but assets involved are up; big players tease more in 2021
Jeffrey B. Stakel sees revenue pressure and slower growth as big factors for continued consolidation.
Money management merger and acquisition activity slowed a bit in 2020 compared with 2019, even as some of the industry's largest players, including State Street and Vanguard, were said to be eyeing asset management deals and opportunities.
While there were fewer deals last year, deals appeared to be larger overall, representing more transacted assets. There were 214 global asset management transactions during the year ended Nov. 30, down from 247 transactions from January through November in 2019, data from Piper Sandler Cos. shows. During the 11-month period last year, $2.59 trillion in assets under management were transacted, up from $1.18 trillion in AUM transacted from January through November in 2019, Piper Sandler found.