GTCR, Reverence Capital Ink $2B Deal For Wells Fargo Unit

Law360 (February 23, 2021, 4:26 PM EST) -- Private equity firm GTCR and private investment company Reverence Capital Partners said Tuesday they would shell out $2.1 billion to buy Wells Fargo's asset management arm, in a deal guided by Kirkland, Skadden and Goodwin Procter.

As rumored in January, GTCR LLC and Reverence Capital Partners LP, working with Kirkland & Ellis LLP, said in a news release that they were taking control of Goodwin Procter LLP-led Wells Fargo Asset Management to help the Wells Fargo offshoot hone its investment performance and client offerings.

The investment firms said that after the deal, Wells Fargo & Co. — guided by Skadden Arps...

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