Alternative investment giant is born as Sparx buys PMA
Japanese investment manager acquires the largest regional ex-Japan alternatives manager in a $226 million stock/cash deal.
Sparx Asset Management, the listed independent Japanese investment manager, has announced its intention to buy Hong KongÆs PMA Capital Management. The combined entity will have assets under management of $8 billion and Sparx says it will be the largest alternative investment manager in Asia.
The deal, which remains subject to the regulators nod, is priced at $226 million in cash and Sparx shares.
The joint plan sees PMA retaining its alternatives focus with its current business operations. All of its...
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