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State Street to acquire GE Asset Management

Deal expected to add $100 billion to State Street Global Advisors’ assets under management

By

Sarah Krouse

and

Anne Steele, WSJ

The deal is expected to add $100 billion to State Street Global Advisors’s assets under management
The deal is expected to add $100 billion to State Street Global Advisors’s assets under management

State Street Corp. has agreed to buy General Electric Co’s asset management unit for up to $485 million as the Boston-based firm works to add scale to its money management division.

The business, which includes GE's US benefits plans as well as assets for third-party institutional client, manages more than $100 billion in assets. The cash deal will give State Street Global Advisors, known for its index-tracking funds, a broader mix of money management abilities including private equity and real estate investments.

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