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BrightSphere Investment Group
United Asset Management was an American holding company headquartered in Boston, Massachusetts. Background The company was founded in 1980 as United Asset Management (UAM) by Norton Reamer, who previously had served as the CEO of Putnam Investments. The company was the first major firm with a business model that consisted of purchasing a number of money management firms. UAM's strategy was to purchase a variety of investment management firms, and then keep a portion of the firms' profits. They allowed each company to operate autonomously and did not close poorly performing units. More than half of UAM's assets were retirement funds. They used stock and cash to fund its acquisitions. They used First Boston as an investment bank to raise money for takeovers, using equity rather than convertible bonds. Some investors viewed the idea of purchasing stock in UAM as akin to an Option (finance), option on the New York Stock Exchange, where it was listed in 1987. In 1992, UAM acquired Ac ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Privately Held Company
A privately held company (or simply a private company) is a company whose Stock, shares and related rights or obligations are not offered for public subscription or publicly negotiated in their respective listed markets. Instead, the Private equity, company's stock is offered, owned, traded or exchanged privately, also known as "over-the-counter (finance), over-the-counter". Related terms are unlisted organisation, unquoted company and private equity. Private companies are often less well-known than their public company, publicly traded counterparts but still have major importance in the world's economy. For example, in 2008, the 441 list of largest private non-governmental companies by revenue, largest private companies in the United States accounted for $1.8 trillion in revenues and employed 6.2 million people, according to ''Forbes''. In general, all companies that are not owned by the government are classified as private enterprises. This definition encompasses both publ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |