Old Mutual Asset Management (OMAM)(OML)‚ the US-based global asset management business of international wealth and Old Mutual plc‚ announced on Wednesday that it has closed the previously announced transactions to sell five of its US affiliates to their respective senior management teams.
The five affiliate asset managers are 2100 Xenon Group‚ 300 North Capital‚ Analytic Investors‚ Ashfield Capital Partners and Larch Lane Advisors. These businesses had combined assets under management of $12 billion as at 30 September 2012.
Terms of the five transactions were not disclosed. OMAM entered into definitive agreements with the affiliate firms in October 2012. - I-Net Bridge