Russell Investments sold
The deal will mean the exit of current stakeholders TA Associates and Reverence Capital Partners who have partnered with Russell since 2016.
The investor consortium is led by US venture capital firm B Capital which is based in California. Other members of the consortium includes the California Public Employees’ Retirement System, known as CalPERS.
Russell Investments will continue to operate independently under its existing leadership team, led by chairman and CEO Zach Buchwald, and president and chief investment officer Kate El-Hillow.
Financial terms of the deal were not disclosed in the firm’s statement but sources indicate the price could be US$2.8 billion.
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