Asset manager Russell Investments has been put up for sale by owner TA Associates. That was reported by business newspaper Financial Times. According to insiders, investment bank Goldman Sachs has been hired to steer sales in the right direction.
The assets under management of Seattle-based Russell Investments would amount to approximately $ 293 billion. TA Associates took over the company in 2016 from stock exchange company London Stock Exchange (LSE). Then a value of 1.5 billion dollars was assigned to Russell Investments. It is still unclear how much TA Associates is now asking for the asset manager. No comment was made against the newspaper about the case.
Consolidation has been taking place regularly within global asset management in recent years, due to pressure on income at many fund managers and increasing competition.