Russell sells AM

Boston-based TA Associates Management LP has signed a definitive agreement to purchase Seattle-based Russell Investments’ asset-management business from London Stock Exchange Group PLC. The deal is valued at US$1.15 billion and is expected to close in the first half of 2016, subject to regulatory approval. New York-based Reverence Capital Partners LLC will hold a minority position in Russell Investments through a partnership with TA Associates.

(fcollie@investmentexecutive.com)