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...Brookfield Asset Management is in advanced talks to buy a majority stake in $22bn private credit manager Castlelake as the world’s second-largest alternative investment manager uses acquisitions to push...
...This includes a £40mn acquisition of Neptune in 2019, and a £120mn deal for Majedie Asset Management in 2022....
...GMO, which has $60bn in assets under management, has held shares for 13 years in Toyota Industries (TIC), the world’s largest manufacturer of forklift trucks and also a producer of cars, textiles and electronics...
...Since Cinven acquired PPF six years ago it has expanded the business through acquisitions....
...Enter the UK asset management sector, likely to provide a flicker of optimism this week with interest rates no longer rising and restructuring efforts moving apace....
...As an international asset management centre, UK asset managers should be able to capture this growth....
...Blackstone already part owns Hipgnosis Song Management (HSM), the manager and investment adviser of Hipgnosis Songs Fund (HSF), although its new offer is separate to that holding....
...The move comes as Goldman attempts to build up its asset management business and deepen its reach into alternative investments including private credit to provide a counterbalance to its highly cyclical...
...The acquisition will make BlackRock the world’s second-largest manager of private infrastructure asset, and boost the leadership of its alternatives business....
...“Anglo will need to create a compelling alternative if they’re going to defend this,” they said....
...Weightman is the unlikely figure behind what has been described as “one of the largest corporate raids” in asset management history, the FT reports....
...Siragusa had teamed up with Merlyn to draw up an alternative plan for the group, including the removal of Labriola as chief....
...Goldman Sachs’ Petershill Partners, which owns minority stakes in alternative asset companies, has bought a stake of more than 20 per cent in private credit specialist Kennedy Lewis Investment Management...
...It said US asset management group Apollo had committed to providing financing for the acquisition through debt and a minority stake in the bidding vehicle....
...rid of South African assets”, said Bruce Williamson, a mining analyst with Integral Asset Management....
...But Blackstone is not entirely asset light....
...Hyperion will have a mandate to hunt for assets in the range of at least $1bn, including single mines and more complex transactions such as buyouts of public companies and the acquisition of stakes in existing...
...Europe’s largest asset manager, Amundi, has struck a deal to buy a private markets specialist, becoming the latest mainstream investment group to target the fast-growing alternatives sector....
...Number three largest, Agnico Eagle, has benefited from fiscally conservative management and mine assets sitting in politically stable Canada....
...Concord also said it intended to sell up to 30 per cent of Hipgnosis’ assets within a period of 18 to 24 months following completion of the acquisition....
...US hedge fund Elliott Management has been buying the bonds of troubled British utility company Thames Water, in a bet that markets have grown too pessimistic over the size of losses that investors may have...
...European investors in asset managers would normally gulp at the thought of growth through acquisitions. The likes of Janus Henderson and Jupiter provide reason for pause....
...Martin Gilbert, in his Aberdeen Asset Management days, tried a similar strategy....
...Last month UBS agreed to sell an additional $8bn of loans to Atlas SP as part of a renegotiation of the deal that also scrapped an associated investment management arrangement....
...Chinese ecommerce company JD.com has said it is considering an offer for UK electronics retailer Currys, setting up an unlikely bidding war after the London-listed group rejected a bid from Elliott Management...
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