Reverence Capital to buy Advisor Group from Lightyear, PSP
Reverence Capital Partners said May 9 that it agreed to buy Advisor Group Inc. Financial terms weren’t announced. Reverence is buying 75 percent of Advisor Group. Lightyear Capital and PSP Investments, the sellers, will have 25 percent. Advisor Group Inc is a wealth management platform that supports over 7,000 financial advisors with $268 billion of client assets. Centerbridge Partners LP was is in talks to buy Advisor Group for more than $2 billion, Bloomberg reported in April.
9 May 2019•4 mins read
