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Thursday, November 29, 2012|
Could Old Mutual Go the Way of ING?
If ING [profile] is doing it, why not Old Mutual [profile]?
Peter Bain's Old Mutual U.S. asset management arm may be prepping itself for a I.P.O., similar to what ING did earlier this month, according to Reuters.
Reuters reports that Old Mutual has said it is considering an IPO for the unit, which counts institutional investors as its main customers. Its decisions will be closely watched by other owners of U.S. fund firms pondering reconfigurations.
Moreover, the newswire says that Bain has been cleaning up the once-troubled division since taking over in 2011, divesting some of the hodgepodge of autonomous investing firms Old Mutual acquired over the years. After an IPO, Bain's division will end up with about $200 billion AUM, according to Reuters.
More on the scenario, including additional insights into Bain's efforts to prep the IPO, can be found at Reuters.
Printed from: MFWire.com/story.asp?s=42186
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