State Street is poised to acquire investment management front-office services firm Charles River Development in a $ more than $300m deal. Charles River has 100 clients in institutional, wealth, asset owner and alternative markets, including 49 of the top 49 asset managers totalling more than $300m assets under management. Charles River posted more than $300m in revenues last year . The acquisition will strengthen State Street's front office operations via State Street automated services. The transaction is expected to close by the end of the year .
State Street is poised to acquire investment management front-office services firm Charles River Development in a $2.6bn deal. Charles River has more than 300 clients in institutional, wealth, asset owner and alternative markets, including 49 of the top 100 asset managers totalling more than $25tn assets under management. Charles River posted more than $300m in revenues last year. The acquisition will strengthen State Street's front office operations via Charles River's automated services. The transaction is expected to close by the end of the year.