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

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

Rating:Will This $249B Fund Firm Go On the Block? Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 10, 2018

Will This $249B Fund Firm Go On the Block?

News summary by MFWire's editors

A New York City-based mutual fund giant may be on the block soon, with a price tag of upwards of $5 billion.

MassMutual is considering selling OppenheimerFunds [profile], an asset management subsidiary with more than $249 billion in AUM as of the end of July, Bloomberg reports. The Springfield, Massachusetts-based insurer hired Lazard to help with the strategic review, Reuters reports. The FT also covered the deal talk.

That rumored $5-billion price tag translates into just over two percent of OpFunds' AUM.

The unnamed sources cited in the reports stressed that the review is in its early stages and that MassMutual has not yet decided whether or not to go through with a sale. All three reports put the potential sale in the context of the broader active asset management industry's woes. (OpFunds is largely an active asset manager, though in recent years it dove into the smart beta ETF space, too.)

OpFunds was founded in 1959, and MassMutual bought it 31 years later. The firm employs more than 2,000 people and is led by CEO Art Steinmetz.  

Edited by: Neil Anderson, Managing Editor


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
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. 1997-2018
14 Wall Street | 20th Floor | New York, NY 10005 | P: 212-331-8968 | F: 212-331-8998
Privacy Policy :: Terms of Use