Legg Mason Inc. (LM) is looking to make acquisitions of international, equity and alternative businesses, said Chief Financial Officer Peter Nachtwey.

The Baltimore-based money manager has $700 million to deploy for potential investments and will look to do “lift-outs and bolt-ons” rather than transformational deals, Nachtwey said today at the KBW Asset Management Conference in New York.

To contact the reporter on this story: Alexis Leondis in New York at aleondis@bloomberg.net

To contact the editor responsible for this story: Christian Baumgaertel at cbaumgaertel@bloomberg.net