Quantcast
The MFWire
Manage Email Alerts | Sponsorships | About MFWire | Who We Are

Subscribe to MFWire.com's News Alerts [click]

Rating:Hennessy Is Hungry for More Not Rated 0.0 Email Routing List Email & Route  Print Print
Monday, November 18, 2013

Hennessy Is Hungry for More

Reported by Tommy Fernandez

In the world of acquisitions, there are some executives who are peckish, maybe hankering for an appetizer.

Neil Hennessy, chairman of Hennessy Advisors is hungry for at least one solid asset management firm, and isn't afraid to ask for seconds.

Emboldened by last year's acquisition of of ten FBR funds, Hennessy has been looking for targets over the past year and is eager to get a deal or two under his belt next year.

"I'm looking to do deals today, any day," he recently told MFWire.

Hennessy said that the ideal targets would be $3 to $5 billion shops, all equity. In an ideal situation the targets' funds would merge into Hennessy's products. The deal could go two ways: merging and managing the team in-house, or sub-advise. Hennessy currently has six sub advisors.

The Morningstar ratings are not a big driver, he said. For example a family fund business that has a two-star rating that nobody is interested in buying, "give me a call," he said. Because the acquired funds would be folded into existing Hennessy funds, the ratings of the predecessor funds are not crucial, he said.

"I'm very easy to please," he said. 

Stay ahead of the news ... Sign up for our email alerts now
CLICK HERE

0.0
 Do You Recommend This Story?



GO TO: MFWire
Return to Top
 News Archives
2024: Q2Q1
2023: Q4Q3Q2Q1
2022: Q4Q3Q2Q1
2021: Q4Q3Q2Q1
2020: Q4Q3Q2Q1
2019: Q4Q3Q2Q1
2018: Q4Q3Q2Q1
2017: Q4Q3Q2Q1
2016: Q4Q3Q2Q1
2015: Q4Q3Q2Q1
2014: Q4Q3Q2Q1
2013: Q4Q3Q2Q1
2012: Q4Q3Q2Q1
2011: Q4Q3Q2Q1
2010: Q4Q3Q2Q1
2009: Q4Q3Q2Q1
2008: Q4Q3Q2Q1
2007: Q4Q3Q2Q1
2006: Q4Q3Q2Q1
2005: Q4Q3Q2Q1
2004: Q4Q3Q2Q1
2003: Q4Q3Q2Q1
2002: Q4Q3Q2Q1
 Subscribe via RSS:
Raw XML
Add to My Yahoo!
follow us in feedly




©All rights reserved to InvestmentWires, Inc. 1997-2024
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use