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London Stock Exchange leads buyout bidders for Russell Investments deal

20 May 2014

The London Stock Exchange Group is leading the pack to acquire Russell Investments, the multi-asset manager that is being hived out of US insurance group Northwestern Mutual, according to the Financial Times.

Northwestern Mutual has hired Goldman Sachs to explore sales options for the unit, with a potential deal thought to be worth around $3bn.

The unit had also attracted private equity interest from Blackstone Group and Bain Capital, while Warburg Pincus and TPG Capital were reported to have teamed up for a bid, as did CVC Capital Partners and Silver Lake.

Seattle-headquartered Russell serves institutional investors as well as retail clients, with $257 of assets under management. It operates a number of indexes, including the Russell 2000 Index, with 350 investment products in all.

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