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 |
|
Thursday, February 19, 2026 10Y Later, Is a $377B-AUM AM For Sale? A $377-billion-AUM*, $962-billion-AUA**, asset manager and consulting firm in the state of Washington may soon be changing hands for the first time in a decade. Ian Wenik of Citywire reports that, per unnamed sources, the private equity giant TA Associates is working on selling Russell Investments [profile]. The report comes 10 years after Boston-based TA and New York City-based Reverence Capital Partners bought Seattle-based Russell from LSEG for $1.15 billion (as expected), which translated into 0.42 percent of Russell's AUM at the time. TA funds own a majority stake in Russell, while Reverence funds, Hamilton Lane Advisors, and some Russell employees own minority stakes. Spokespeople for TA and Hamilton Lane declined to comment to MFWire a possible Russell sale. Spokespeople for Russell and Reverence did not respond to MFWire's requests for comment. Talk of a possible Russell sale also comes about a month after Zach Buchwald, chairman and CEO of Russell, publicly revealed that the fund firm has completed $1.225 billion in strategic financing with a big alternative asset manager, Apollo. A spokesperson for New York City-based Apollo declined to comment to MFWire on the report of TA trying to sell Russell. "This strategic financing reflects confidence in Russell Investments' industry-leading business performance and our continued growth trajectory," Buchwald stated last month. "Partnering with Apollo enhances our flexibility to continue to invest in our business, our people, and our clients." "Russell Investments is a scaled global investment solutions provider with a strong franchise and clear strategic direction, and we are pleased to support the firm as it continues to execute its long-term objectives," Chris Lahoud, partner and deputy co-head of hybrid at Apollo, stated last month. The Russell sale talk comes as several other big fund firm deals are officially in the works, such as Janus Henderson going private, Raymond James buying Clark Capital, and Nuveen acquiring Schroders. Private equity folks and fundsters alike may not be surprised to hear of a possible Russell sale, given that it's been almost 10 years since the TA purchase closed. After all, PE firms typically aim to hold investments for 7 years or less. Who might buy Russell? Perhaps other PE will swoop in, in partnership with Russell management. Perhaps a big, acquisition-friendly asset manager like Franklin Templeton will make a move. Or perhaps a foreign financial services firm will jump in, making a Nomura-esque move to gain a big U.S. asset management industry presence. Stay tuned ... *As of September 30, 2025. **As of June 30, 2025. Printed from: MFWire.com/story.asp?s=72121 Copyright 2026, InvestmentWires, Inc. All Rights Reserved |