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. The deal is expected to close in the fourth quarter of this year. 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 $ 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 .