Barrenjoey’s $1.1 Billion Sale Shows Appeal of M&A Boutiques

As global dealmaking picks up, financial advisory firms are getting in on the action and sparking consolidation among themselves.

In the latest case, Magellan Financial Group Ltd. agreed to buy Australian boutique Barrenjoey Capital Partners for about A$1.6 billion ($1.1 billion), a windfall for the ex-UBS Group AG bankers who set up the firm in 2020.