Permira Buys Deutsche Unit To Form $15B Wealth Manager

Law360, New York (February 27, 2014, 1:42 PM EST) -- European private equity firm Permira will buy Deutsche Bank AG investment management unit Tilney, the companies said Thursday, in a deal that will see Permira combine Tilney with another recent purchase to create a wealth manager with over £9 billion ($15 billion) of assets under management.

The financials of the deal, which is expected to close in the second quarter of 2014, were not disclosed on Thursday. Permira said on Thursday that upon the deal's closing, it will combine regional wealth management business Tilney with private...
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