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Thursday, September 22, 2016|
Will Aberdeen, Allianz, Macquarie, or Natixis Offer $3B For a Multinational Asset Manager?
Several multinational asset managers with presence in the U.S. have been identified as some of the bidders contending for Pioneer Investments [profile]. Watch for UniCredit, the giant Italian bank that currently owns Pioneer, to settle on a Pioneer deal before 2017. [See MFWire's living timeline of the Pioneer auction for more details and history.]
Per previous reports, the first, non-binding round of Pioneer bids was due earlier this week.
The price tag for Pioneer could be more than 3 billion euros (i.e. more than $3.35 billion), Paul Davies of the Wall Street Journal reports. As of June 30, Pioneer had $245 billion in AUM world (including $65.8 billion in the U.S.), so a $3.35-billion price tag would translate into about 1.4 percent of AUM.
Financial News, Fund Strategy, and InvestmentWeek also reported on the Pioneer bidding process.
Printed from: MFWire.com/story.asp?s=54856
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