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iM Global has taken a stake in a top-performing equity business, as it looks to put its remaining $400 million to work

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The deal comes amid a hot time for M&A in asset management, with deal value up 72% last year, according to PwC.

"We believe there is much more activity to come and more deals to be consummated given both the fundamentals and challenges across the sector," theThe iM Global model is similar to that of Affiliated Managers Group, which Seeley left last March after 16 years.

Scharf, founded in 1983, has more than quintupled its assets since 2007. Seeley said iM Global will help the firm continue expanding, particularly in its institutional and high net worth advisory segments, by connecting Scharf's team with iM Global's distribution team.

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