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Management consultant McKinsey & Co. is reportedly considering a spin-off of its internal asset management division, MIO Partners, which manages wealth for the firm’s senior staff and alumni, according to a January 30 report by the Financial Times.
The FT reports that McKinsey has hired Ardea Partners for a strategic review of MIO Partners, which reportedly manages $23B in client assets. McKinsey told the publication that the review would consider the firm’s relationship with the asset manager to make sure that it aligns with its long-term goals and those of MIO’s clients.
McKinsey said that a positive outcome would enable MIO to expand its operations and capabilities. Due to governance rules MIO does not invest in the stocks or bonds of any public or private company, instead pursuing macro trading strategies primarily through external managers.
Source: https://www.ft.com/content/8050dc39-8444-4811-be37-8750141b4d46
Written By: Dakota
November 06, 2024
November 21, 2024
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