Mergers & Acquisitions / Joint Ventures

F&C inks deal to buy Thames River, minus Nevsky


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.