F&C Asset Management has agreed to acquire Thames River
Capital for up to £53.6 million ($70 million). The deal
marks the first significant buy-out of a leading alternative
asset manager in Europe after a long lull in M&A activity
and comes at a time when many are predicting a possible wave of
consolidation in the investment management industry.
The acquisition should close by the third quarter, after
which Thames River – which has assets under management
of £4.2 billion ($6.4 billion) - is expected to continue
as a largely autonomous business, supported by F&C's
distribution network and operating platform.
The acquisition forms part of F&C's strategy for
developing its multi-specialist business model and...