Legg Mason eyes retail growth in alts manager purchase
The global asset manager has acquired Australian alternatives fund house RARE Infrastructure. The move comes as traditional and alts managers increasingly converge, and boutique houses look for global tie-ups.
Global asset manager Legg Mason has acquired RARE Infrastructure, in a deal which has highlighted convergence between traditional and alternative fund houses.
It comes as boutique fund houses increasingly look for partnerships with large asset managers in an attempt to tap their global distribution capabilities.
In the acquisition of the Sydney-based fund manager, Legg Mason Global Asset Management yesterday claimed the deal had “huge” retail investor growth potential.
The sol…
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