GTCR, Reverence ink $2.1B deal for Wells Fargo unit
February 24, 2021
GTCR and Reverence Capital Partners have agreed to acquire Wells Fargo Asset Management for $2.1 billion in a deal that's expected to close in the second half of this year. Wells Fargo will retain a 9.9% stake in the business, which has more than $600 billion in assets under management. Current WFAM CEO Nico Marais will continue to lead the company following the deal's completion.