The value of mergers and acquisitions in the asset management sector is closing in on the record set in 2000, as the sale of Putnam Investments and the listing of Fortress Investments draw near.

Deal value has reached $20.1bn (€15.7bn), ahead of last year's $18.4bn, closing in on the $30.9bn recorded six years ago, according to investment bank Putnam Lovell NBF. Boosted by history's largest asset management deal – BlackRock's acquisition of Merrill Lynch Investment Managers for $9.6bn – assets acquired this year reached $1.4 trillion, compared with the $1.37 trillion record of 2000. The highest number of listings of asset management companies took place this year. There were nine including BlueBay Asset Management, which started trading on Friday and raised more than $350m. The previous best, last year, was four. The largest initial public offering this year is that of Ashmore, an emerging markets manager, which raised $560m last month. The previous high was the flotation of Kansas-based Waddell & Reed in March 1998, which raised $489m. The flotation of Fortress Investments, an alternative investments company, is likely to eclipse that when it lists in New York. It is seeking to raise $750m. Private equity firms have also been more active, acquiring $186bn in assets compared with the 2004 record of $118bn.