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CIBC and two groups of private equity firms are considering making an offer for Russell Investments, according to a report.
Reuters, which cites unnamed sources, said CVC Capital Partners and Silver Lake have partnered up as have Warburg Pincus and TPG Capital.
Those two groups of firms and CIBC are reportedly interested in buying all of Russell’s investment management and indexes businesses, while others such as MSCI are only interested in the indexes division.
Northwestern Mutual said in January that it was exploring strategic alternatives, including a possible sale, for its majority ownership in Russell Investments.
At the end of March, Russell had more than US$259 billion in assets under management.
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