Sale of Russell Investments Could Be A Whopper: UPDATED
While many people may still be talking about the BK sale, there is another deal that has the potential to be a whopper. Northwestern Mutual Life Insurance is thinking about selling Russell Investments. Before you laugh, a Russell sale would be a big deal in the asset management space. Anyone who has invested in the stock market knows Russell, which is best known as the index provider behind many biggest mutual funds. Northwestern Mutual has decided that Russell Investments isn’t a core asset anymore and is seriously considering putting the $140 billion asset manager up for sale, according to Investment News. Northwestern Mutual bought Russell in 1998 in a deal that was estimated at $1.2 billion. Earlier this year, Russell sold Pantheon Ventures, its PE firm, to Affiliated Managers Group for $775 million.
