Just as analysts were starting to call the top in fund management mergers and acquisitions, another spate of transactions hit the market last month.

Pzena, a US equities manager, filed for an initial public offering. BlackRock bought alternatives manager Quellos Group. UK hedge fund GLG announced a reverse takeover of a US-listed shell company. Nuveen Investments, a public mutual funds manager, was taken private and Thomas Marsico bought back his fund management company from Bank of America.