Global growth private equity firm TA Associates is to acquire Frank Russell Company’s asset management business from London Stock Exchange Group plc (LSE.L) in a transaction valued at US$1,150m.
Reverence Capital Partners partnered with TA Associates and will make a significant minority investment in Seattle, Washington-based Russell Investments. The transaction is contingent upon standard regulatory and other required approvals and is expected to be completed in the first half of 2016.
Todd Crockett, a Managing Director at TA Associates, and Milton Berlinski, Managing Partner of Reverence Capital, will join the Russell Investments Board of Directors upon close of the deal.
Led by Len Brennan, President and CEO, Russell Investments is a global investment manager, which provides institutional and retail investors globally with multi-asset solutions including transition management, currency management, overlay services, commission management and agency trading. It also offers consulting services with US$2.4 trillion of assets under advisory.
Wholly owned by London Stock Exchange Group (LSEG), the firm operates globally, including through its offices in Seattle, New York, London, Paris, Amsterdam, Milan, Dubai, Sydney, Melbourne, Auckland, Singapore, Seoul, Tokyo, Beijing, Toronto, Chicago, Milwaukee and Edinburgh.
FinSMEs
09/10/2015