Fuse Blog

1Q22 M&A: Quality over Quantity

  • During 1Q22, acquired assets were relatively small at $44.8 billion compared to the quarterly average of $338.9 billion over the past five years. Despite this, the appetite for M&A among asset managers is still strong, with the number of acquisitions remaining steady as firms look to expand capabilities versus scale.
  • Alternative managers comprise nearly half of the acquired assets in 1Q22, as firms seek to capitalize on one of the fastest-growing asset classes. Over the year-to-date period, alternatives boast the most consistent weekly inflows with the last weekly outflow occurring more than five months ago.
  • First Eagle’s acquisition of Napier Park Global Capital, an alternative credit manager with approximately $18.7 billion in assets under management, ranks as the largest acquisition by acquired assets for the quarter.

M&A Activity over Past Five Years

ma blog 42022

Source: Company Filings, FUSE Research analysis