Man Group CEO Robyn Grew Says Asset Managers Ready for M&A Wave
- High costs, need for scale mean time for consolidation: Grew
- London firm bought a controlling stake in Varagon this year
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The asset management industry is ripe for consolidation as the end of near-zero interest rates forces firms to weigh options and soften valuations, according to Robyn Grew, the boss of the world’s largest listed hedge fund firm.
“As we look at the barriers to entry in this space, if we look about the cost of running our businesses, if we think about the scale that we need to operate at, and the multiples that we’re starting to see coming down, I think this could be an interesting time for consolidation,” Man Group Plc Chief Executive Officer Grew told Bloomberg Television’s Francine Lacqua in an interview.