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Northwestern Mutual draws private equity bidders for Russell Investments

10 Mar 2014

US insurance group Northwestern Mutual has attracted buyout interest from private equity firms Blackstone Group and Bain Capital for its multi-asset management division Russell Investments, Bloomberg has reported.

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

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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