MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication
an InvestmentWires' Publication
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MutualFundWire.com
The insiders' edge for 40 Act industry executives!
an InvestmentWires' Publication |
|
Friday, April 3, 2009 Goldman Sachs Reportedly Helps a Fund Firm Look for Possible Buyers Another potential mutual fund sale just came to light. P&I's Douglas Appell reports that, according to investment bankers, Lincoln is shopping Delaware Investments, with the assistance of Goldman Sachs. A spokesperson for Delaware and Lincoln could not immediately be reached by The MFWire for comment, and a spokeswoman for Goldman declined to comment. Earlier this week, the Philadelphia Inquirer's Harold Brubaker reported that, according to Goldman analyst Thomas Gallagher, Lincoln might sell Delaware in the wake of an announcement from the insurer that it would soon be paying off $500 million in debt. Lincoln president and CEO Dennis Glass even alluded to possible subsidiary sales in that announcement. "We have additional securitization and reinsurance options and are also very fortunate to have a number of valuable assets that could be monetized to raise additional capital should the need arise," stated Glass. "This flexibility, coupled with Lincoln's strong core franchise, gives us confidence in our ability to successfully navigate a very challenging environment." Delaware managed $118 billion at the end of 2008. Printed from: MFWire.com/story.asp?s=21203 Copyright 2009, InvestmentWires, Inc. All Rights Reserved |