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

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

Rating:Targeting the U.S. Insti Market, Kranefuss Still Wants to Look at Good Acquisitions, Too Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, November 4, 2014

Targeting the U.S. Insti Market, Kranefuss Still Wants to Look at Good Acquisitions, Too

Reported by Neil Anderson, Managing Editor

Lee Kranefuss and his new ETF team are making a push in the U.S., and organic growth isn't the only kind of growth on the table.

Last month Source, of which iShares founder Kranefuss is executive chairman, crossed the Atlantic with its first ETF for the U.S..

"We're just setting up the U.S. business," Kranefuss tells MFWire. "We're very excited about entering the market."

Source's primary distribution, Kranefuss says, is institutional. The Source team is targeting hedge funds, pensions, and more, and he says the advisor channel "is "huge." You have to "let people know you're there," Kranefuss says.

"What really builds a business is having the resources on the ground and the long-term commitment. It's an educational process around what you bring to market," Kranefuss adds. "There's some thought behind it. That's time-consuming ... We're in the process of adding to that staff [in the U.S.]"

As for acquisitions, Kranefuss says the Source team is "absolutely" open to doing deals. Kranefuss joined private equity giant Warburg Pincus several years ago, and he joined Source as executive chairman when Warburg bought a majority stake in Source earlier this year.

"In this industry, there's about one trade globally a year," Kranefuss says, "I'd be stunned if I didn't see every book that comes ... You always want to look at good acquisitions."

Yet Kranefuss is not putting acquisitions front and center in his strategy.

"You always want to know that you have a path that you're happy with for organic growth, so you don't have to do deals you don't like," Kranefuss says. "That makes you a disciplined buyer of things you really like at a price you feel is fair." 

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