Personal fairness agency Introduction Worldwide and a unit of the Abu Dhabi Funding Authority are shopping for a minority stake in billionaire Ken Fisher’s Fisher Investments price as a lot as $3 billion.
The transaction, during which the acquirers will make investments no less than $2.5 billion, values carefully held Fisher at $12.75 billion, the money-management agency stated Sunday in a press release.
The deal is a part of Ken Fisher’s property planning, based on the corporate, and can let Fisher Investments proceed to function independently.
“Whereas my well being is superb, this transaction with an atypically lengthy holding interval for a personal fairness transaction will guarantee FI’s long-term non-public independence and tradition ought to something untoward occur to me,” Fisher, 73, stated within the assertion.
Bloomberg Information and the Journal reported in January that Introduction had held talks to accumulate Fisher, each citing folks with data of the matter.
At the moment, Fisher issued a assertion saying, “Fisher Investments will not be being purchased by Introduction Worldwide, or anybody else — plain and easy.” Introduction issued the same denial of the January experiences.
Fisher Investments oversees $275 billion for greater than 150,000 shoppers together with people and establishments, the agency stated in its assertion Sunday.