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Article: Credit woes may spur money management selloffs; Possible buyers may be those that need to boost back office or distribution.(News)
- Article from:
- Investment News
- Article date:
- May 19, 2008
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Copyright informationCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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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 ...
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