On November 26, 2013, The Carlyle Group (NASDAQ: CG) announced that it will acquire Diversified Global Asset Management Corporation, a global hedge fund manager. Carlyle will finance the transaction with equity from its balance sheet.
On November 21, 2013, Reuters reported that China Cinda Asset Management Corp., one of China’s four bad loan managers, plans to raise up to $2.5 billion (HK$19 billion) in its Hong Kong initial public offering.
On November 19, 2013, Julius Baer announced that Infidar Investment Advisory, part of the Julius Baer Group, will merge with WMPartners Wealth Management. Following the transaction, the new company will be one of Switzerland’s largest independent asset managers.
On November 18, 2013, Aberdeen Asset Management announced that is had entered into a long-term strategic partnership with Lloyds Banking Group and that it will acquire Scottish Widows Investment Partnership Group Limited from Lloyds for approximately £550 million.
On November 14, 2013, Wealthcare Capital Management announced that it had entered into a merger agreement to be acquired by NewSpring Holdings, a private equity investment company. The transaction is expected to close in December 2013.
On November 12, 2013, Elements Capital Partners announced that it had acquired a 40.84% stake in NFD d.o.o, a Slovenian mutual fund company. Elements Capital Partners and NFD’s other major shareholder, the NETA financial group, now hold 82% of NFD.
On November 13, 2013, Snowden Capital Advisors announced that it will receive a strategic growth capital investment from Estancia Capital Partners. Snowden Capital Advisors will use the investment to expand its business in existing markets and other target markets.