Article: Credit woes may spur money management selloffs; Possible buyers may be those that need to boost back office or distribution.(News)

Byline: Raquel Pichardo

As the credit crunch drives large financial firms to shed all or part of their asset management businesses to raise capital, some money management units may merge or be acquired, industry experts say.

Buyers are likely to be smaller money managers, alternative investment firms looking to round out the strategies they offer or others that need to boost their back office or distribution capabilities, the experts said.

"Any dislocation in the markets creates opportunities,'' said Kevin Quirk, a partner at Casey Quirk & Associates LLC in Darien, Conn. "At the same time, firms in a bit more of a distressed position will look to partner with ...

Related newspaper, magazine, and journal articles:

Newsweek Harper's Magazine The Washington Post Chicago Tribune Crain's Chicago Business PRNewswire Pediatric News The Nation Advertising Age The Economist (US) A FREE trial gives you access to over 80 million articles! Access over 6,500 publications with a FREE trial!