The London Stock Exchange Group (LSE) is in talks to acquire Seattle-based asset management firm Russell Investments, the exchange acknowledged Tuesday.

The LSE says that it is evaluating the merits of a potential transaction to acquire Russell, and that it is engaged in discussions with the firm’s parent company, The Northwestern Mutual Life Insurance Co.

“Discussions remain ongoing and there can be no certainty that any transaction will be forthcoming,” it said.

If a transaction does go ahead, the LSE says that it intends to fund it, in part, by raising equity.