Mergers & Acquisitions

CAPTRUST Buys Campbell Wealth And TruNorth, Adding $1.97 Billion In Assets

By Amit Chowdhry ● Dec 27, 2024

CAPTRUST Financial Advisors announced the addition of Campbell Wealth Management in Alexandria, Virginia, and TruNorth Wealth Partners in St. Paul, Minnesota. Combined these teams bring $1.97 billion in assets.

Raymond James Onboards $995 Million Advisor Team

By Amit Chowdhry ● Dec 27, 2024

Raymond James & Associates’ Mid-American regional director, Amy Smart, announced that the firm recently welcomed financial advisors Adam Ours, John Koch, and Padma Jambunath to the firm’s employee advisor channel in Cleveland, Ohio. The team includes senior client relationship manager Jeffrey Danzinger, senior registered client relationship associate Sasha Delic-Milanovic, and senior client service associate Betsy Margolin. They come from Merrill Lynch, where they managed approximately $995 million in client assets and will operate as part of RJA’s Cleveland Beachwood branch.

News Corp To Sell Foxtel To DAZN In A$3.4 Billion Deal

By Amit Chowdhry ● Dec 27, 2024

News Corporation announced it has entered into a definitive agreement to sell Foxtel Group to DAZN Group Limited, a premier global sports streaming platform. Under the terms of the deal, shareholder loans for A$578 million outstanding and owing to News Corp will be repaid in full in cash at closing.

Fiserv Acquiring Payfare In $140 Million Deal

By Amit Chowdhry ● Dec 27, 2024

Fiserv - a leading global provider of payments and financial services technology - announced it has entered into a definitive agreement to acquire Payfare, a provider of program management solutions with a focus on new economy workforces. The deal is subject to obtaining shareholder and court approvals and other customary closing conditions and is expected to close in the first half of 2025.

Morgan Stanley Real Estate Investing Buys Brightview’s Senior Living Portfolio

By Amit Chowdhry ● Dec 27, 2024

Morgan Stanley Investment Management—through investment funds managed by Morgan Stanley Real Estate Investing (MSREI)—announced it partnered with Brightview Senior Living to buy a portfolio of eight premium senior housing communities from Harrison Street. Harrison Street is one of the leading investment management firms exclusively focused on alternative real assets, with about $56 billion in assets under management.

Commonwealth Onboards Two Long Island Affiliates With Over $495 Million In Client Assets

By Amit Chowdhry ● Dec 27, 2024

Commonwealth Financial Network, a national RIA dedicated to offering financial advisors with integrated business solutions, announced it welcomed two Jericho, New York-based independent advisory firms previously affiliated with Securities America (now Osaic) and collectively reported more than $495 million in client assets.

Third Point Acquires Diversified Alternative Credit Fund Manager AS Birch Grove

By Amit Chowdhry ● Dec 26, 2024

Third Point, an alternative investment manager with $12 billion of assets, announced that it has entered into a definitive agreement to acquire AS Birch Grove LP, a diversified alternative credit fund manager. And upon the completion of the deal, American Securities will no longer be an owner of Birch Grove, which will become a subsidiary of Third Point.

Prosus To Buy Online Travel Agency Despegar For $1.7 Billion

By Amit Chowdhry ● Dec 26, 2024

Prosus announced that it entered into a definitive agreement to buy Despegar, a leading Latin American Online Travel Agency (OTA), for $19.50 per share, equivalent to a 33% premium to the closing share price as of 20 December 2024, and a 34% premium to Despegar’s 90-day VWAP (volume weighted average price). The proposed deal was approved by Despegar’s board of directors, who recommended that Despegar shareholders vote in favor of the proposed transaction following the unanimous recommendation by a transaction committee.

Orion To Buy Summit Wealth Systems

By Amit Chowdhry ● Dec 26, 2024

Orion, a provider of transformative wealth-technology solutions for financial advisors and the enterprise firms that serve them, announced a definitive agreement to acquire advisor technology provider Summit Wealth Systems. When the deal closes in early 2025, Summit’s CEO, Reed Colley, will join Orion as President of Orion Advisor Technology, reporting to Orion CEO Natalie Wolfsen.

MetLife Buying PineBridge Investments In $1.2 Billion Deal

By Amit Chowdhry ● Dec 26, 2024

MetLife Investment Management (MIM) - MetLife's institutional asset management business - announced that it has reached a definitive agreement to acquire PineBridge Investments, a global asset manager with about $100 billion in assets under management, from the Pacific Century Group.