The two private equity firms named in the report are GTCR and Reverence Capital Partners. has gained 16%. said Tuesday it has agreed to sell Wells Fargo Asset Management to private-equity firms GTCR LLC and Reverence Capital Partners LP for $2.1 billion. Wells Fargo will continue to own a 9.9% stake in the company and serve as client and distribution partner. No financial terms were disclosed. GTCR: Chicago Chicago: 1992 1980 1992 1980 Goldman Sachs: Goldman Sachs Capital Partners: New York: 1986 na JPMorgan Chase & Co. CCMP Capital (fka JPMorgan Partners) One Equity Partners: New York Chicago: 1984 ... Largest private-equity firms by PE capital raised. GTCR will invest in WFAM from GTCR Fund XIII, a private equity fund raised in 2020 with $7.5 billion of limited partner capital commitments. +2.38% SPX, Sequoia Capital hacked, warns LPs personal and financial info may have been accessed. Surge Private Equity has made an investment in Maryland-based RAC, an ecommerce platform that sells products for retail chicken owners. About GTCR Founded in 1980, GTCR is a leading private equity firm focused on investing in growth companies in the Healthcare, Financial Services & Technology, Technology, Media & Telecommunications and Growth Business Services industries. Wells Fargo selling asset management business to GTCR, Reverence Capital Partners Skip to main content She is based in New York. +2.38% CPPIB committed US$100 million to Baring Asia Fund V in 2010, US$335 million to Baring Asia Fund VI in 2014 and US$500 million to Baring Asia Fund VII in 2018. Wells Fargo & Co. The group of "meme" stocks, led by videogame retailer GameStop Corp. undefined that have been volatile in recent weeks as investors on a Reddit subgroup have egged each other on, were active again in premarket trade Monday. Once the deal closes, the new company will be rebranded. said Tuesday it has agreed to sell Wells Fargo Asset Management to private-equity firms GTCR LLC and Reverence Capital Partners LP for $2.1 billion. The Chicago firm and another private-equity firm are buying the bank's asset management business. GameStop shares have gained 440% in the year to date, as investors on Reddit's WallStreetBets platform sought to punish short sellers who had driven short interest in the stock to 140% by buying the stock and creating a short squeeze. Wells Fargo & Co. WFC, -0.32% said Tuesday it has agreed to sell Wells Fargo Asset Management to private-equity firms GTCR LLC and Reverence Capital Partners LP for $2.1 billion. WFC, Baring Asia Private Equity is a mid-market, pan-Asian private equity firm focused on buyout and growth opportunities. BlackBerry Ltd undefined was up 3.8%, and Naked Brand Group Ltd. undefined was up 9.5%. Nico Marais will remain CEO, as he has been since June 2019. Davis Noell is a senior managing director based in our New York office. +2.54% Once the deal closes, the new company will be rebranded. Joseph A. Sullivan, former chairman and CEO of Legg Mason, will become executive chairman. GTCR LLC is a leading private equity firm focused on investing in growth companies in the growth business services, technology, media & telecommunications, healthcare, and financial services & technology industries. Hong Kong-based investment firm ZQ Capital said on Monday it has sold U.S. diversified medical devices maker Surgical Specialties Corporation (SSC) to Chicago-based private equity firm GTCR. has gained 16%. Founded in 1996, Vivo Capital is a leading global healthcare investment firm with a diverse, multi-fund investment platform in venture capital, growth equity, buyout, and public equities. Private equity firms GTCR and Reverence Capital Partners have agreed to carve out Wells Fargo Asset Management in a $2.1bn deal. WFC, The deal is expected to close in the second half The asset manager has $603 billion in assets under management, 24 offices globally and teams supported by more than 450 investment professionals, the company said in a statement. She is based in New York. ... GTCR … Mr. Noell is currently a director of 365 Retail Markets, The Chernin Group, DoubleVerify and Smartly.io. He co-leads the firm's private equity investment activities in North America and is a member of the firm’s investment, portfolio review and operating committees. The deal is expected to close in the second half The asset manager has $603 billion in assets under management, 24 offices globally and teams supported by more than 450 investment professionals, the company said in a statement. GameStop and AMC Entertainment shares active again premarket, Twitter cracks down on coronavirus-vaccine misinformation, Starbucks non-dairy beverages, including Oatly oatmilk coffee drinks, go nationwide on March 2, Tesla’s market share in Europe keeps crumbling, as China reclaims top spot in global EV race, China’s top banking regulator warns of asset bubbles on Wall Street and elsewhere, Infineon to replace Nokia in Euro Stoxx 50, Desktops are making a comeback during the pandemic, I married the ‘life of the party’ who was a regular at Royal Ascot. Based in … Copyright © 2021 MarketWatch, Inc. All rights reserved. Hong Kong-based investment firm ZQ Capital said on Monday it has sold U.S. diversified medical devices maker Surgical Specialties Corporation to Chicago-based private equity firm GTCR. Hong Kong-based ZQ Capital has sold Surgical Specialties Corporation (SSC) to Chicago-based private equity firm GTCR, in a deal a source said valued the U.S. diversified medical devices maker at around $800 million including debt. Nico Marais will remain CEO, as he has been since June 2019. Joseph A. Sullivan, former chairman and CEO of Legg Mason, will become executive chairman. The firms named in a Bloomberg report include two private equity firms and two asset management firms. But all he does is take his financial troubles out on me, Desktops are making a comeback during the pandemic, All Apple retail stores in U.S. open for first time in almost a year; stock jumps. Ciara Linnane is MarketWatch's investing- and corporate-news editor. Ciara Linnane is MarketWatch's investing- and corporate-news editor. Wells Fargo shares were down 0.5% premarket and are down 22% in the last 12 months, while the S&P 500 Barclays acted as financial advisor and Kirkland & Ellis acted as legal advisor to GTCR in this transaction. Koss Corp. undefined, a maker of headphones, was up 2.9%. Wells Fargo & Co. +2.54% Website Copyright © 2021 MarketWatch, Inc. All rights reserved. GameStop shares were up 5% premarket, while shares of AMC Entertainment Holdings Inc. undefined, the world's biggest cinema chain, were up 12%. Wells Fargo shares were down 0.5% premarket and are down 22% in the last 12 months, while the S&P 500 Firm News Mike Didymus-February 23, 2021. But all he does is take his financial troubles out on me. GameStop and AMC Entertainment shares active again premarket, Nio’s sales top $2 billion in ‘transformational’ year, Starbucks non-dairy beverages, including Oatly oatmilk coffee drinks, go nationwide on March 2, China’s top banking regulator warns of asset bubbles on Wall Street and elsewhere, Infineon to replace Nokia in Euro Stoxx 50, I married the ‘life of the party’ who was a regular at Royal Ascot. Wells Fargo will continue to own a 9.9% stake in the company and serve as client and distribution partner. Wells Fargo & Co. WFC, -1.91% said Tuesday it has agreed to sell Wells Fargo Asset Management to private-equity firms GTCR LLC and Reverence Capital Partners LP for $2.1 billion. Buffett didn’t talk about succession, the significant underperformance of Berkshire shares, missed investment opportunities during 2020, and Berkshire’s leadership team. SPX,