TITLE

Genworth to Sell Wealth Unit to PE Firms

AUTHOR(S)
Browdie, Brian
PUB. DATE
April 2013
SOURCE
American Banker;4/1/2013, Vol. 178 Issue 49, p12
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports Genworth Financial life and mortgage insurance company in Richmond, Virginia will sell its wealth management operations to the private-equity firms Aquiline Capital Partners and Genstar Capital for $412.5 million. The article notes the deal involves two Genworth units, Genworth Financial Wealth Management and Altegris alternative investments. It also notes the deal is expected to close in the second half of 2013.
ACCESSION #
86435638

 

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