Advent International is close to closing a deal to acquire a minority stake in asset management firm Fisher Investments.
A deal valuing Fisher at nearly $13 billion could be revealed by Monday, according to people familiar with the matter, assuming there is no last-minute unforeseen event.
Fisher manages more than $275 billion for more than 150,000 clients around the world, including 120,000 private clients in the United States.
For Advent, the agreement would add investments in the financial services sector to its portfolio. The private equity firm has accumulated about $25 billion in 2022 for its latest buyout fund.
Private equity mergers and acquisitions are on the rise compared to a quiet 2023, as companies deal with challenges including a high interest rate.
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