Carlyle and Bain Capital are in contention to acquire Wealth Enhancement in a deal that could value the wealth management platform at about $7bn including debt, the Financial Times has reported.
Wealth Enhancement oversees nearly $160bn in client ***** ets, according to the report. Its private equity owners, TA ***** ociates and Onex, have put the business up for sale.
The two firms are now the final bidders in the process after other contenders dropped out, people familiar with the matter told the FT.
The sale comes as private equity groups continue to pursue independent wealth management firms, which have seen strong deal activity in recent years.
Wealth Enhancement is a registered investment adviser, or RIA. These firms compete with banks by advising wealthy individuals and business owners on investments in exchange for fees.
#Equity #owners #business
Wealth Enhancement oversees nearly $160bn in client ***** ets, according to the report. Its private equity owners, TA ***** ociates and Onex, have put the business up for sale.
The two firms are now the final bidders in the process after other contenders dropped out, people familiar with the matter told the FT.
The sale comes as private equity groups continue to pursue independent wealth management firms, which have seen strong deal activity in recent years.
Wealth Enhancement is a registered investment adviser, or RIA. These firms compete with banks by advising wealthy individuals and business owners on investments in exchange for fees.
#Equity #owners #business
3 days ago
