Invesco to buy OppenheimerFunds from MassMutual in $5.7bn deal

Adding $246bn in AUM

Tom Eckett
clock • 1 min read

Invesco will purchase rival US asset manager OppenheimerFunds from MassMutual, adding $246bn in assets to the firm.

Invesco will pay MassMutual $4bn in preferred shares and 81.9 million of common stock, which is valued at around $1.7bn based on Invesco's closing price on Wednesday. The deal will bring Invesco's assets under management (AUM) to $1.2trn, making it the 13th largest global investment manager. Subject to regulatory approval, the $5.7bn deal is expected to complete in Q2 2019. OppenheimerFunds is primarily an actively-manager mutual fund group but also runs a small ETF business. Talking with … OppenheimerFunds' Heidi Heikenfeld Invesco chief executive Martin Flanagan (pictured) s...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Investment

Did the bond market cause Trump's tariff U-turn?

Did the bond market cause Trump's tariff U-turn?

90-day pause on tariffs introduced on ‘Liberation Day’

Laith Khalaf
clock 24 April 2025 • 3 min read
RLAM implements Sustainability Focus label across £11bn portfolio range

RLAM implements Sustainability Focus label across £11bn portfolio range

Across a mix of funds and trusts

Cristian Angeloni
clock 23 April 2025 • 1 min read
Advisers notice growing client demand for bespoke investments

Advisers notice growing client demand for bespoke investments

Want access to ETFs, investment trusts, equities, bonds and AIM shares

Isabel Baxter
clock 17 April 2025 • 2 min read