(1888PressRelease)
February 21, 2008 - Data from Putnam Lovell showed that the number of deals agreed during 2007 climbed to 241 from a figure of 192 in 2006.
Meanwhile, the total deal value rose to $52.1 billion from $44 billion.
The two largest deals recorded over the course of the year were Power Financial's purchase of Putnam Investments and the management buyout of Nuveen Investments, Financial News Online reports.
However, these only accounted for 20 per cent of assets acquired with 2007 seeing a more even spread of transactions than had previously been the case.
Ben Phillips, a managing director of Jefferies Putnam Lovell, attributed the rise in acquisitions to traditional managers seeking to switch to alternative investments as well as the process of globalisation.
He explained: "Managers are looking for faster-growing asset classes and access to new clients.
"They are at risk of it taking too long to develop their own expertise. Institutional investors normally want three-year records before they will invest, so firms that want to access these markets now have to buy."
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