Consolidation continues in the mutual fund and ETF business (and the rest of the U.S. asset management business). Here are some of the deals that went down in 2024:

David C. "Dave" Brown Victory Capital Holdings, Inc. Chairman, CEO

January 1 - Franklin Templeton closes on its acquisition of Boston-based Putnam Investments, a deal that was first revealed in May 2023;

January 4 - The Alger Group Holdings, LLC team reveals a deal, then expected to close by the 31st of that month, to buy Newton, Massachusetts-based Redwood Investments, LLC;

January 26 - Amplify ETFs adopts the funds of Summit, New Jersey-based ETF Managers Group (ETFMG), a deal that was first unveiled in June 2023;

March 12 - CoinShares International Limited closes on its planned purchase of Brentwood, Tennessee-based Valkyrie Funds LLC;

May 1 - BlackRock buys Chicago-based SpiderRock Advisors, LLC;

May 30 - The ACA Group team unveils a deal, expected to close by today, to buy Milwaukee-based UMB Distribution Services, LLC;

July 9 - The Victory Capital Holdings team officially agrees to a planned deal to buy Boston-based Amundi US, a purchase expected to close by today; and

November 19 - The Horizon Investments, LLC team reveals a deal, expected to close in the first half of next year, to buy New York City-based Centre Asset Management.

Did we miss a deal? Let us know at editors@MFWire.com.

In the meantime, watch MFWire's deal sheet to keep up-to-date on deals throughout the year. Here's a look back at 2023 deals. And for an overview of 2024's retirement plan industry deals, read this update from 401kWire, a sister publication to MFWire. 

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