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 |
|
Monday, March 4, 2013 Is Bank Ready to Sell its $48B Asset Arm? Maybe the third time is the charm. Reuters reports that SunTrust Banks Inc. has found three private equity firms interested in buying the regional bank's RidgeWorth Investments arm. According to the newswire, the purported price for the asset manager would be between $250 and $300 million. The newswire reports that this is the bank's third such try in three years to find a RidgeWorth buyer. The prospective bidders include New York-based Lightyear Capital and Crestview Partners, and Chicago-based Thoma Bravo, LLC, said the sources. Last month, Crestview partnered with the employees of Victory [profile] in a $246 million buyout from KeyCorp. Read more on this development in Reuters. Printed from: MFWire.com/story.asp?s=43163 Copyright 2013, InvestmentWires, Inc. All Rights Reserved |