Valerie Ge

There were 19 money management deals in the first quarter of 2023, down significantly from 35 transactions from the year-earlier quarter. Assets under management involved in the latest quarter’s transactions totaled $160 billion, only a 2% decrease from $164 billion in first quarter 2022.

During the first quarter, 52 ERISA-related lawsuits were filed and/or updated. Each event represents the involved parties either reaching a settlement or filing an appeal, or a court decision was made.

Search activity for the fourth quarter of 2022 increased by 25.5% from the prior quarter. Traditional manager searches soared by 119%, mostly driven by strong interests in domestic equity and fixed-income strategies, with some non-U.S. activity from Global Fund Search.

Seventeen money management deals took place in the fourth quarter of 2022, down from 32 transactions in the year-earlier quarter. Assets under management involved in the latest quarter’s transactions totaled $164 billion, down 61% from $422.2 billion in the previous quarter. Over the last 4 years, the lowest AUM involved in transactions was $156.5 billion in the first quarter of 2019.

During the fourth quarter of 2022, 13 stories were written about non-ERISA lawsuits that involve legal prosecution or settlements, with an additional 88 stories on legislation and regulation. Forty-three representatives and senators were mentioned.

During the fourth quarter of 2022, 48 ERISA-related lawsuits were filed and/or updated. There were 179 and 133 ERISA-related stories written in 2022 and 2021, respectively.

This report intends to provide insights into the overall and asset class benchmarks selected by the 50 largest U.S. public defined benefit plans.

During the third quarter of 2022, 14 stories were written on non-ERISA lawsuits that involved legal prosecution or settlements, and an additional 64 stories on legislation and regulation.

Twelve money management deals took place in the third quarter of 2022, down from 32 transactions in the year-earlier quarter.

Hiring activity decreased 1.2% from the previous quarter to $91.3 billion, and the number of hires decreased a significant 19.8%.

Based on the data collected by Pensions & Investments on private fund closings, total private investing fundraising was $293.73 billion in the first half of 2022.