State Street has closed the deal for its $485 million acquisition of GE Asset Management (GEAM), a divestiture from General Electric Company, and the giant asset manager/custodian has begun the transition of GEAM’s $100 billion in assets under management, officials say. The total purchase price of up to $485 million is “expected to be accretive… Read More >>
State Street Acquires GE Asset Management
Fairfield, Conn.-based General Electric (GE) reports that its wholly owned investment management arm, GE Asset Management (GEAM), has been acquired by Boston-based State Street Corp.’s State Street Global Advisors (SSGA) in a bid to strengthen its capabilities. The deal was for cash, “up to $485 million, subject to adjustments,” according to a statement by the… Read More >>
