Aberdeen, Standard Life merger
The $4.6bn merger between Standard Life and Aberdeen Asset Management was the largest global deal last year, according to a PwC report.
The merged firm — Standard Life Aberdeen — has a $13.5bn stock market value, and its asset management arm — Aberdeen Standard Investments — had $871bn in assets under administration when the deal closed last summer, the merger announcement notes.
The Edinburgh-based shop is now a top 20 global player and the largest actively managed fund firm in the UK, according to Morningstar.
Carillon Tower Advisers buys Scout Investments
Carillon Tower Advisers doubled its assets under management last November when it acquired Scout Investments from UMB Financial. Scout’s fixed income subsidiary, Reams Asset Management, was also part of the package (FA, 4/24).
Carillion Tower scooped up the $27bn boutique for $173m. The additional assets brought its total AUM to $64bn from $32bn, according to the firm.
The acquisition aimed to give Carillion Tower access to Scout’s registered investment adviser and broker-dealer clients, after already having a presence in the wirehouse channel through its other affiliates — Eagle Asset Management, ClariVest Asset Management and Cougar Global Investments (FA, 4/24).
Invesco scoops up Guggenheim’s ETF biz
Passive exchange-traded fund players are also on the hunt for scale. Last year, Invesco announced plans to buy Guggenheim Investments’ exchange-traded fund business, in a deal valued at $1.2bn.
The move will give Invesco the scale to compete with passive players that launch ETFs with super-low fees, analysts told FA (FA, 9/28).
Invesco PowerShares is the fourth largest ETF provider with about $140bn in assets under management as of Feb. 22, according to ETF.com. Adding Guggenheim’s $37bn in ETF assets expands PowerShares’ lead over rivals, including Charles Schwab Investment Management, its closest competitor in terms of ETF assets. Schwab had $103.9bn in ETF AUM as of Feb. 22, according to ETF.com.
The firms expect to close the deal in the second quarter.