MutualFundWire.com: Will Federated Buy a $54.6B Shop?
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
Thursday, May 02, 2019|
Will Federated Buy a $54.6B Shop?
Chris Donahue may be about to seal another deal, this time much closer to home.
The team at Donahue's Federated Investors [profile] is talking with the team at PNC Financial Services Group about Federated buying a PNC asset management arm, PNC Capital Advisors [profile], Pensions & Investments reports, citing unnamed sources (one of whom expects a deal announcement maybe as early as next week). As of the end of Q1 2019, PNC Capital Advisors had $54.6 billion in AUM, while Federated had $484.9 billion. Federated and PNC Financial are based in Pittsburgh, though PNC Capital Advisors is based in Baltimore.
| Chris Donahue|
President, CEO & Chairman
Spokespeople for Federated and PNC declined to comment to P&I.
The PNC-Federated deal talk comes a month and a half after PNC publicly agreed to sell off another unit, its retirement plan recordkeeping business.
Printed from: MFWire.com/story.asp?s=59667
Copyright 2019, InvestmentWires, Inc.
All Rights Reserved