B Capital-Led Group Buys Russell Investments for $2.8 Billion

Corporate Action

โดย Bloomberg·Read original

Summary · why it matters

A consortium led by B Capital Group and the California Public Employees' Retirement System is acquiring Russell Investments in a deal valued at $2.8 billion, according to a person with knowledge of the matter. The 90-year-old asset manager, which oversees $416 billion in assets, will continue to be run independently by CEO Zach Buchwald and CIO Kate El-Hillow. B Capital co-founder Raj Ganguly said the acquisition aims to leverage artificial intelligence to improve retirement and personal investing while maintaining the human element. The transaction is expected to close early next year, subject to regulatory approval.

Impact on stocks 0

Off-coverage companies 3

Russell InvestmentsPrivate± Mixed

Capitalrelevance

Russell Investments is being acquired; impact on its operations and future performance is unclear.

B Capital GroupPrivate▲ Positive

Capitalrelevance

B Capital Group leads the acquisition of Russell Investments, expanding its asset management portfolio.

CalPERSPrivate▲ Positive

Capitalrelevance

CalPERS is part of the consortium acquiring Russell Investments, an investment that could yield returns.