Sullivan Buys a $10B Global Shop
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Thursday, July 24, 2014

Sullivan Buys a $10B Global Shop

Joe Sullivan, chief executive of Legg Mason is a busy man.

Sullivan, to whom Motley Fool recently gave accolades has completed a deal to acquire the nearly $10 billion AUM Edinburgh-based international equity specialist Martin Currie.

The terms of the deal were not disclosed.

Martin Currie is a 130-year old boutique specializing in global emerging markets, Asian, European and global equities, according to Legg. It also has strategies devoted to Japanese and Chinese markets.

The shop, which has 46 professionals, will become "core independent investment affiliate of Legg Mason, along with Brandywine Global, ClearBridge Investments, The Permal Group, QS Investors, Royce & Associates and Western Asset Management," according to a company statement.

Sullivan has been an active acquirer over the past year, negotiating a deal to buy the New York quant shopQS Investors in March, which is being integrated with Legg's Boston-based Batterymarch Financial Management, as well as Legg Mason Global Asset Allocation.

This is not Sullivan's first foray into England. Legg and its affiliate Permal acquired the London-based Fauchier Partners in March 2013.

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