Aquiline, Genstar Carving Out Genworth Wealth Management
March 29, 2013
Aquiline Capital Partners and Genstar Capital have agreed to acquire Genworth Wealth Management from Genworth Financial (NYSE: GNW) for $412.5 million. The sale includes both of Genworth Wealth Management's businesses: its Genworth Financial Wealth Management investment management and consulting platform and Altegris, an alternative investments solutions provider. Credit Suisse has provided a debt financing commitment for the acquisition, which is expected to close in the second half of 2013.