The company's AUM growth was driven by previously noted market appreciation and the
GEAM business, partially offset by $25 billion of outflows experienced during the quarter.
The sale, part of GE's restructuring to focus on its industrial core, will bring
GEAM's capabilities to State Street Global Advisors, augmenting and enhancing SSGA's investment capabilities in areas complementary to its existing capabilities, including active management, as well as in alternative assets and outsourced chief investment officer mandates.
As part of the transaction, SSGA received client consents to transition the management of nearly 99 percent of
GEAM's assets under management (more than USD100bn as of March 31, 2016) and nearly 270 former
GEAM employees became part of the SSGA team.
Previously at
GEAM, Ross was co-portfolio manager with Koutsoftas of the GE Active Commodities strategy since inception.
In Proceedings of the
GEAM Conference "Le cave in sotterraneo"-20-21 giugno 2006, Tocino, pp.
As part of the deal, Apollo will also acquire all the shares in the joint ventures GE Toshiba Silicones and GE Bayer Silicones which, together with GE Advanced Materials, form
GEAM.
GE earns millions of dollars from managing this pension plan through General Electric Asset Management (
GEAM).
State Street Corporation (NYSE: STT) has said that it has agreed to acquire GE Asset Management (
GEAM), an asset manager, from GE (NYSE: GE).