Baltimore, Maryland-based asset management firm $LM said its affiliate, Brandywine Global, recorded $2.8Bil in total inflows during 3Q16 while the ClearBridge Investments affiliate realized outflows of $2Bil. The Martin Currie affiliate closed a bolt-on acquisition of PK Investment Management in its related $167MM Japan equity fund.
In 3Q16, $GE posted revenues of $6.5Bil in its Power segment, up 37%
from 3Q15. In Renewable Energy, revenues increased 66% from last year. Oil &
Gas revenues fell 25% while Aviation revenues grew 5%. Healthcare revenues grew
5% while Transportation revenues fell 22%. Capital revenue fell 2% to $2.6Bil.
Financial services company $SYF posted higher 3Q16 earnings, helped by higher net interest income and deposit growth. $SYF said net income rose 5.22% to $604MM or $0.73 per share from $574MM or $0.69 per share a year ago. Net interest income for the quarter rose 12% to $3.5Bil, driven by strong loan receivables growth.
$DTE said it completed the $1.3Bil purchase of midstream natural gas assets in Pennsylvania and West Virginia. The acquired assets are in a highly productive area of the Southwest Marcellus/Utica region. In early Oct., the company successfully financed the deal through the issuance of $675MM of equity units and the remainder with senior notes.