Let's talk asset management M&A: Episode 1: Market Developments
Video Details
In the first episode of our new vodcast series, Richard Sheen and Clementine Hogarth, partners in our London Financial Institutions team, explore the key forces driving mergers and acquisitions in the asset management industry.
Against a backdrop of macroeconomic challenges and increasing regulatory complexity, consolidation has become a strategic response for many firms. Richard and Clementine draw on their recent experience advising on a range of transactions to highlight the recurring themes shaping the market.
They identify several core drivers of M&A activity, including the pursuit of scale to achieve cost efficiencies and broaden distribution, the need to invest in regulatory and technology infrastructure, and the growing influence of private equity. The episode also examines how shareholder activism and valuation pressures—particularly in listed asset managers—are prompting firms to explore strategic options.
The discussion touches on the rise of the multi-boutique model, where larger firms acquire stakes in specialist, founder-led businesses to diversify into high-growth areas such as infrastructure, renewables, and AI. They also explore the challenges facing the UK’s listed fund sector, where persistent discounts and limited capital-raising ability are leading to consolidation and managed wind-downs.
This episode sets the stage for a series that will delve deeper into deal structuring, regulatory issues, due diligence, and people-related considerations in asset management transactions.
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