Wells Fargo & Company has agreed to divest its asset management business – Wells Fargo Asset Management (WFAM) to private equity firms GTCR and Reverence Capital Partners for $2.1 billion. As part of the deal, Wells Fargo will retain a stake of 9.9% in the asset management business and will continue to be its major […]
Owl Rock Capital Group and Dyal Capital Partners will merge their businesses to create Blue Owl Capital, a US-based alternative asset management company, which will have over $45 billion in assets under management. Blue Owl Capital will be merged subsequently with a special purpose acquisition company (SPAC) called Altimar Acquisition, which is sponsored by HPS […]
Macquarie Asset Management has signed a deal worth around $1.7 billion to acquire US-based asset and wealth management company Waddell & Reed Financial. The asset management unit of Australia-based Macquarie Group is offering to acquire each of the shares of Waddell & Reed Financial for $25. While the asset management business of the US company […]
Ant Financial Services, a Chinese fintech company owned by Alibaba Group, has created a joint venture (JV) with The Vanguard Group, a US asset management company to offer retail investment advisory services in China. The joint venture will combine the technology of Ant Financial Services’ Alipay, a third-party mobile and online payment platform, with the […]
Assured Guaranty, Bermuda-based financial guaranty insurance company, said that its subsidiary Assured Guaranty US Holdings (AGUS) has completed its previously announced $160 million acquisition of BlueMountain Capital Management and its associated entities. BlueMountain Capital Management, which is an alternative asset management company, has $18.9 billion in assets under management (AUM). As per CreditFlux CLO manager […]
Assured Guaranty acquisition of BlueMountain : Assured Guaranty, Bermuda-based financial guaranty insurance company, said that its subsidiary Assured Guaranty US Holdings (AGUS) has agreed to acquire BlueMountain Capital Management and its associated entities for about $160 million. Based in New York, BlueMountain Capital Management is an alternative asset management company having $19.3 billion in assets […]