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The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
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Thursday, June 21, 2018 Is Minerd About to Double His Guggenheim Empire? Scott Minerd may be about to double his empire at Guggenheim Investments [profile] with a deal across the pond. Executives at Guggenheim Partners (Guggenheim Investments' parent) are negotiating a deal to buy Munich Re AG's asset management arm in a deal that would leave Munich Re with a stake in Guggenheim Investments, the Wall Street Journal reports. Guggenheim Investments has $250 billion in AUM, and Munich Re's asset management business was 250 billion euros ($288.44 billion) in AUM. Bloomberg, Reinsurance News, and Reuters also reported on the deal rumors. Reinsurance News notes that, per J.P. Morgan analysts, the vast majority of Munich Re's asset management unit's AUM is managed for Munich Re itself, while only about $18 billion is managed for third parties. So, between the Guggenheim Investments stake and that Munich Re money, Guggenheim and Munich would become closely tied by such a deal. Printed from: MFWire.com/story.asp?s=58236 Copyright 2018, InvestmentWires, Inc. All Rights Reserved |