This year has seen an elevated amount of PE activity in the European asset management sector, with an increase of more than 33% for deal value over the whole of 2021 before Q4 2022 has even started, according to PitchBook data.
In the largest deal this year, Cinven bought a majority stake in UK-based True Potential, a platform that provides retail investors with access to funds and other investment tools, for more than €2 billion (about $1.97 billion).
Another large deal was Genstar-backed Apex Group‘s August acquisition of UK-listed fund administrator Sanne Group for about €1.8 billion. The company provides services to professional investors in the alternative asset class range, including private debt, private equity, real assets and hedge funds.
Keen to broaden its range to more peripheral parts of the market, TDR Capital took Arrow Global private last year, in a deal worth £563 million (about $633 million). The firm invests in nonperforming loans and noncore assets across Europe.
While there have been well-publicized moves by large listed traditional asset managers to gain exposure to private markets, PE firms also appear to have a thirst for other strategies.
Featured image by Giulio Benzin/Shutterstock
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