U.S. private equity firm TA Associates closed its deal for Seattle-based asset manager Russell Investments from the London Stock Exchange (LSE) on June 1.
Boston-based TA announced Wednesday that its acquisition for Russell Investments for US$1.15 billion has closed. Another private investment firm, Reverence Capital Partners, has also taken a minority stake in the firm, as has Russell Investments’ management, TA notes.
Russell Investments currently has more than US$247 billion in assets under management.
“We will utilize our industry knowledge, experience and global resources to help accelerate Russell Investments’ growth,” says Todd Crockett, a managing director at TA Associates, in a statement.
“With the support of our new investors, we will leverage the strength of our investment proposition and caliber of our service offering to position our business for continued growth,” adds Len Brennan, CEO of Russell Investments.