Deals
Invesco Bets $5.7 Billion That Active Management Has Future
- Pays $5.7 billion for MassMutual’s OppenheimerFunds Unit
- MassMutual will become a major Invesco holder after deal
This article is for subscribers only.
Invesco Ltd. is betting $5.7 billion that active management has a bright future.
Invesco agreed to pay about that amount in a deal with Massachusetts Mutual Life Insurance Co. to acquire its OppenheimerFunds, which specializes in picking stocks and bonds especially in the international arena. At a time when many investors are deserting active funds for products that track indexes, Invesco Chief Executive Officer Martin Flanagan is convinced that active funds will continue to play a critical role in the portfolios of retail and institutional customers.