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M&A Deal Summary

State Street Acquires GE Asset Management

On March 30, 2016, State Street acquired financial services company GE Asset Management from General Electric for 485M USD

Acquisition Highlights
  • This is State Street’s 7th transaction in the Financial Services sector.
  • This is State Street’s 7th largest (disclosed) transaction.
  • This is State Street’s 7th transaction in the United States.
  • This is State Street’s 1st transaction in Connecticut.

M&A Deal Summary
Date 2016-03-30
Target GE Asset Management
Sector Financial Services
Buyer(s) State Street
Sellers(s) General Electric
Deal Type Divestiture
Deal Value 485M USD

Target

GE Asset Management

Stamford, Connecticut, United States
GE Asset Management is a global asset manager with $110 billion in assets under management (as of December 31, 2015). GEAM and its predecessor organizations have been managing investments for GE’s U.S. pension and other benefit plans for over 80 years. In 1988, the firm began offering investment management products and services to investors outside GE, and today manages portfolios for more than 100 institutional clients—including corporate and public retirement plan sponsors, foundations, endowments, sovereign wealth funds, insurance companies, and GE affiliates.

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Buyer(S) 1

Buyer

State Street

Boston, Massachusetts, United States
Category Company
Founded 1792
Sector Financial Services
Employees52,626
Revenue 12.9B USD (2024)
DESCRIPTION

State Street is a specialist in providing institutional investors with investment servicing, investment management and investment research and trading services. State Street was founded in 1792 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 9 of 13
Sector: Financial Services M&A 7 of 9
Type: Divestiture M&A Deals 2 of 4
State: Connecticut M&A 1 of 1
Country: United States M&A 7 of 10
Year: 2016 M&A 1 of 1
Size (of disclosed) 7 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-07-17 Goldman Sachs Administration Services

United States

Goldman Sachs Administration Services provides a hedge fund administration services.

Buy $550M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-07-20 Charles River Systems

Burlington, Massachusetts, United States

Charles River Systems, Inc. is a provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $33.9 trillion in assets under custody and administration and $2.7 trillion in assets under management as of June 30, 2018, State Street operates globally in more than 100 geographic markets and employs over 38,000 worldwide

Buy $2.6B

Seller(S) 1

SELLER

General Electric

Boston, Massachusetts, United States
Category Company
Founded 1892
Sector Diversified
Employees205,000
Revenue 38.7B USD (2024)
DESCRIPTION
General Electric office in Dubai, United Arab Emirates.
General Electric office in Dubai, United Arab Emirates.

General Electric is a diversified technology and financial services company. Products and services range from aircraft engines, power generation, water processing, and household appliances to medical imaging, business and consumer financing and industrial products. General Electric was founded in 1892 and is based in Boston, Massachusetts.

DEAL STATS #
Overall 29 of 46
Sector: Financial Services M&A 8 of 9
Type: Divestiture M&A Deals 24 of 38
State: Connecticut M&A 1 of 4
Country: United States M&A 22 of 35
Year: 2016 M&A 3 of 5
Size (of disclosed) 15 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-03-03 Clix Capital

Gurgaon, India

Clix Capital is a provider of asset-based, cash flow and structured loans. Company offer corporate debt solutions across diverse industry sectors, namely healthcare, IT, manufacturing, media, energy, automobile, aviation and business services. Clix Capital was founded in 2016 and is based in Gurgaon, Haryana.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-21 Daintree Networks

Los Altos, California, United States

Daintree Networks, Inc. is a manufacturer of networked wireless solution for lighting and building control, monitoring, and optimization, reduces energy and operating costs, improves the occupant experience, increases business productivity and scales to manage a large portfolio of buildings.

Buy -
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