Buy-side M&As accelerates

NEW YORK – Acquisitions of asset and hedge fund management firms have increased at a steady clip in 2006, with 89 deals worth at least $13.5 billion occurring so far this year.
A report by New York investment bank Putnam Lovell NBF Securities, Storm front: Asset management M&A worldwide, first half 2006, notes that 2006 will be a record year if buy-side M&As continue at this rate for the next six months. The report finds that acquisitions of hedge funds and funds of funds continues to gather