Increasing Asian high-net-worth population driving inbound investment; Expected consolidation across the hyper-fragmented asset management and private markets GP landscape.

2025’s Wealth and Asset Management dealmaking activity accelerated, whilst PE-focused financial services targets and PE-led (buyer) activity became increasingly selective. Both sectors continue to be challenged by margin pressures and the need for scale to meet minimum requirements for assets under management (AUM) and leverage scale economies across technology, operations, compliance, and talent.

At A&M, we believe that the value-creation playbook - optimised funding and capital efficiency, strengthened risk management and operating disciplines – will be continuously put into action as buyers navigate the following trends:

• Acquisition of capabilities and local wealth managers to establish cross-border investment platforms and booking centres 
• Continued pivot to private markets – most notably of private credit specialists, infrastructure platforms, data centre exposure, and real asset managers
• Transitioning from partnerships to acquisitions for greater investment capabilities and expertise to enter “hot” market verticals of private credit and alternative financing and/or geographies

In our report, we explore these trends across Asian markets, and outline where value creation opportunities can be realised. Click the link below to find out more. 

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For a comprehensive view of Asia’s Financial Services 2026 M&A Outlook and a review of the deal market in 2025, click here.