Panel session: Survival of the biggest: The way of M&A?
November 05, 2012
Is M&A the inevitable key to the success of hedge fund/FoHF businesses?
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In the latest InvestHedge Billion Dollar FoHF Club Survey, when asked what would govern the industry in the next five years, 61% of funds of funds said they believed consolidation would be the driver; yet when asked individually as a firm how their firms were going to grow, 76% said they would grow organically. There is clearly a disconnect between perception and reality.
That said, M&A is gathering pace; in the past 18 months, more than 20 FoHF deals have been announced – with at least seven in 2012, including Franklin Templeton’s recent acquisition of K2 Advisors.
As the largest FoHFs are gathering assets at a faster pace – unsurprising when large investors need to put large sums to work – does this environment leave...
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