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Wednesday, June 05, 2013

Legg Mason May Break Into Private Equity

News summary by MFWire's editors

So the latest chapter in the evolution of Legg Mason apparently will involve breaking into private equity, real estate and infrastructure, according to Bloomberg.

Chief financial officer Peter Nachtwey made these comments today at the Keefe, Bruyette & Woods Asset Management Conference held in New York, the newswire reports. Bloomberg adds that Nachtwey explained that the asset manager is looking to do more acquisitions per se, but rather is looking to add on teams that would provide coverage to these assets categories.

It is yet another chapter in the sweeping epic of Legg's evolution. For example, chief executive Joe Sullivan earlier this week hinted that he may be looking to snap up an equity shop.

Meanwhile, in March, Sullivan completed his acquisition of London-based Fauchier Partners.  

Edited by: Tommy Fernandez

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