Carne Group, a provider of third-party management company services - known as 'ManCos' - is to acquire The Asset Management Exchange (AMX) from Willis Towers Watson (WTW) for an undisclosed sum.
In turn, WTW will take a minority stake in Carne, which it said will add “scale and growth opportunities” to its own client solutions platforms.
The transaction, which is subject to regulatory approvals, is expected to close in the second quarter of 2022.
Following completion of the deal, Carne will employ more than 500 professionals and its third-party fund management company will manage in excess of $300 billion in assets under management.
AMX is an “investment ecosystem” that connects investors, asset managers and service partners so they can transact and interact in one place through its institutional funds platform.
Carne said that the acquisition of AMX and investor relationships will complement its own offering, which includes, due diligence, distribution and technology platforms.
Carl Hess, CEO of WTW, said: “Five years ago, AMX was established to transform investor experience and outcomes. Now as part of Carne, AMX can realise its full potential, delivering new products and enhanced services to a wider section of our client base in more jurisdictions and asset classes.”
Carne Group CEO John Donohoe added: “Working with WTW will increase our coverage, while AMX’s capabilities, like its CCF platform and investor reporting tools, will further expand our offering.”
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