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Invesco to buy OppenheimerFunds from MassMutual for $5.7b
Other - OCTOBER 19, 2018

Invesco to buy OppenheimerFunds from MassMutual for $5.7b

by Released

Invesco has acquired MassMutual asset management affiliate OppenheimerFunds for $5.7 billion.

In turn, MassMutual and the OppenheimerFunds employee shareholders will receive a combination of common and preferred equity consideration, and MassMutual will become a significant shareholder in Invesco, with an approximate 15.5 percent stake.

This strategic transaction will bring Invesco’s total assets under management to more than $1.2 trillion, making it the 13th-largest global investment manager and sixth-largest U.S. retail investment manager, further enhancing the company’s ability to meet client needs through its comprehensive range of high-conviction active, passive and alternative capabilities.

The highly complementary investment and distribution capabilities of Invesco and OppenheimerFunds will strengthen the combined organization’s ability to provide more relevant investment outcomes to an expanded number of institutional and retail clients in the United States and around the globe. Both Invesco’s and OppenheimerFunds’ clients will benefit from the resulting combination, which will incorporate OppenheimerFunds’ high-performing investment capabilities, including a strong international and emerging markets equity franchise, and its powerful U.S. third-party distribution platform, with Invesco’s strong and diversified product lineup and global presence, supported by solutions-driven and technology-enabled client outreach.

“The combination with OppenheimerFunds and the strategic partnership with MassMutual will meaningfully enhance our ability to meet client needs, accelerate growth and strengthen our business over the long term,” said Martin Flanagan, president and CEO of Invesco. “This is a compelling, highly strategic and accretive transaction for Invesco that will help us achieve a number of objectives: enhance our leadership in the United States and global markets, deliver the outcomes clients seek, broaden our relevance among top clients, deliver strong financial results, and continue attracting the best talent in the industry.”

The transaction is expected to close in the second quarter 2019.

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