Manatt Antitrust and Competition Partner Dylan Carson was quoted in a Fund Fire article on the recent federal antitrust scrutiny of large asset management deals and what it could mean for private fund managers’ future M&A activity.
According to the article, although recent M&A moves are getting bigger, serious antitrust issues are not likely to arise, despite increased attention at the federal level. Carson noted that large asset management deals nevertheless have garnered attention, triggering claims that mergers can transform passive investors into active controllers of market-leading companies with the potential to influence competition in downstream markets. He said that fund managers buying smaller peers will not likely be dramatically affected, adding that a more aggressive stance toward them is unlikely “unless the scale of a merger is so big it could affect the industries where fund managers invest.”
Fund Fire subscribers can read the full article here.