Alternative Products, Cross-Border Links to Dominate Asset Management Deal Flow in 2008, According to Jefferies Putnam Lovell.NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of -- As fallout from the US subprime failure lingers in the world's equity markets, M&A in the global investment management sector in 2008 will shift, with alternative managers accounting for a record proportion of deals, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Jefferies Putnam Lovell, the division of Jefferies Group, Inc. (NYSE NYSE See: New York Stock Exchange : JEF JEF Jefferies Group, Inc. (stock symbol) JEF Junge Europäische Föderalisten (German: Young European Federalists) JEF Joint Educational Facilities, Inc. ) focused on the asset management and financial technology industries. Overall action in 2008 will be vibrant, but will likely not match 2007 peaks set for transaction value and number of deals, according to All Shook Up, a Jefferies Putnam Lovell review of M&A and capital markets activity in the global asset management and financial technology industries. Pricing for alternative managers will remain firm, even amid slumping equity markets. With at least seven new SPACs (special purpose acquisition companies) currently targeting the financial sector, asset managers will have access to public capital this year, but this year's supply of traditional IPOs may fall short of the year-earlier total. Private equity shops remain enthusiastic about asset management, but will be more restrained bidders as financing costs rise. ''Unstable markets will persuade traditional and alternative managers to unite and create broader product capabilities and sources of revenue,'' said Ben Phillips Ben Phillips (born 1947) is a poet, teacher and publisher. Biography Born in the United States, where he worked as a journalist, he settled in Toronto, Ontario in 1968. , managing director and head of strategic analysis at Jefferies Putnam Lovell and author of the report. ''When markets recover, investment managers will emerge as even more formidable competitors within the financial sector.'' Buyers of asset management firms This is a list of corporations that provide financial asset management.
Among the trends Jefferies Putnam Lovell expects to unfold during the next 12 months are: * Transaction activity, driven by the secular demand for higher-growth alternative investments, will be solid. Nevertheless, a large group of prospective sellers will elect to wait for sunnier markets, and resurrected record profits, before returning to the auction block. * Buyout firms will continue to shop aggressively in the asset management and financial technology aisles by offering equity-heavy deals. * Financial technology firms will continue to attract attention from strategic buyers, as exchanges gird themselves for conflict with alternative trading venues, custodians look for the differentiating edge, and buy-side firms seek further methods of out-trading a subprime-ravaged sell-side. * Alternative asset managers will account for a record proportion of deals in 2008. Long-only players will step up their search for short skills. Alternative firms, looking to dampen the revenue volatility from performance fees, will seek more asset-based fees to improve earnings quality. * Public markets will remain a viable source of liquidity for asset managers. As asset management becomes a more clearly defined, understood and independent sector within financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. , its higher-value attributes will shine through. Multiples paid for quoted fund managers globally will rebound with a broad market. * Cross-border transaction activity will continue to drive a growing portion of deal activity. Asia's long-term promise remains bright, and US asset managers must fulfill their customers' voracious voracious said of appetite. See polyphagia. demand for international securities. About Jefferies Putnam Lovell Putnam Lovell, the division of Jefferies & Company, Inc. focused on the financial services industry, offers a wide range of corporate advisory services advisory services advisory services provided to the public, in their capacity as owners and managers of animals, are an important part of veterinary science. They may be provided by government bureaux, by commercial companies who deal in pharmaceuticals or animals or animal , including mergers and acquisitions advice and capital raising. Putnam Lovell's global client base is comprised of diversified financial The diversified financial services segment includes a range of consumer and commercially-oriented companies offering a wide variety of products and services, including various lending products (such as home equity loans and credit cards), insurance, and securities and investment services firms, institutional and mutual fund managers, alternative investment managers, banks, broker-dealers, insurers, and financial technology firms. Putnam Lovell was founded in 1987 and operates from offices in New York, San Francisco San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden , Boston, and London. Since July 2007, Putnam Lovell has been a division of Jefferies & Company, Inc., the principal operating subsidiary An operating subsidiary is a business term frequently used within the United States railroad industry. In the case of a railroad, it refers to a company that is a subsidiary but operates with its own identity and rolling stock. of Jefferies Group, Inc. (NYSE: JEF). For more information please visit www.putnamlovell.com. About Jefferies Jefferies, a global investment bank and institutional securities firm, has served growing and mid-sized companies and their investors for 45 years. Headquartered in New York, with more than 25 offices around the world, Jefferies provides clients with capital markets and financial advisory services, institutional brokerage, securities research and asset management. The firm is a leading provider of trade execution in equity, high yield, convertible and international securities for institutional investors Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. and high net worth individuals. Jefferies & Company, Inc. is the principal operating subsidiary of Jefferies Group, Inc. (NYSE: JEF; www.jefferies.com) |
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