GTCR and Reverence Capital Partners completed the acquisition of the asset management unit of Wells Fargo for $2.1bn.

Private equity firms GTCR and Reverence Capital Partners completed the acquisition of the asset management unit of Wells Fargo, a financial services company, for $2.1bn. "We are thrilled to work with Nico and the team at WFAM, and we have tremendous conviction in the caliber and capabilities of the management professionals and leadership team. The organization is poised to provide further innovation in the investment marketplace while continuing to deliver high-quality products to its clients. The team, underpinned by its diversity, client-orientation, and collaborative culture, has delivered strong performance, and we will work to reinforce these values and sustain this performance. Along with our partners at Reverence Capital, we are committed to the long-term success of the organization," Collin Roche, GTCR Managing Director.