Wealth funds pile into M&A

GLOBAL corporate mergers and acquisitions activity involving sovereign wealth funds rose to more than $12bn (£7.7bn) in the second quarter with 33 deals completed, Thomson Reuters data showed yesterday.

Global announced M&A volumes involving state investment vehicles stood at $12.5bn in the second quarter, up from just $1.1bn in the first three months of this year. The number of deals rose to 33 from 24 in the January-March period. A month and a half into the third quarter, sovereign wealth funds have made 13 M&A deals worth $2bn.