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 2023:

January 10 - The Spouting Rock Asset Management team unveiled plans to buy Reinhart Partners, Inc.;

January 31 - Diffractive Managers Group closed on its planned acquisition of F/m Acceleration, a deal that was first unveiled in December 2022;

February 2 - The Cohen & Company team unveiled plans to buy BBD, LLP;

April 1 - Virtus closed on its planned acquisition of AlphaSimplex, LLC, which was was first unveiled in October 2022;

April 4 - Casey Crawford unveiled plans to buy Vident's business;

May 2 - The PGIM team unveiled plans to buy Deerpath Capital Management, LP, and Franklin Templeton acquired volScout, which became Franklin MOST;

5/12 - The Shelton Capital Management team unveiled plans to buy Rockwood Capital Advisors, LLC;

5/15 - AXS bought ACM Funds;

5/31 - The Franklin Templeton team unveiled plans to buy Putnam Investments, and now the deal is expected to close in January 2024;

6/12 - The Amplify ETFs team unveiled plans to adopt ETFMG's ETF Lineup;

September 8 - VettaFi acquired EQM Indexes, LLC;

September 30 - GLOBALT Investments LLC gained its independence;

October 4 - The AXS team unveiled plans to buy Knowledge Leaders Capital;

October 16 - TCW Group acquired Engine No. 1's ETF business and infrastructure, after the deal was unveiled in July;

November 10 - Hennessy closed on the acquisition of the assets of the CCM Small/Mid-Cap Impact Value Fund, a deal unveiled in April (though a related Hennessy purchase, of the assets of the CCM Core Impact Equity Fund, is still pending).

Did we miss a deal? Let us know at editors@401kWire.com.

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

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