Announced
Financials
Tags
wealth management
Asset Managers and Custodians
United States
investment advisory services
Minority
Friendly
Private
Domestic
Pending
Single Bidder
Private Equity
Acquisition
Synopsis
Warburg Pincus and Mubadala Capital agreed to acquire a minority stake in Edelman Financial Engines, an independent financial planning and investment management firm. Hellman & Friedman, a lead investor in Edelman Financial, will remain majority investor. Financial terms were not disclosed. “This new investment from Warburg Pincus alongside the continued support from Hellman & Friedman demonstrates the abundance of opportunity ahead for our business. Our record growth in 2020 created momentum that has continued into 2021. We are well-positioned and excited to take advantage of the opportunities in front us and to fulfill our long-term vision of helping more Americans meet all their financial goals," Larry Raffone, Edelman Financial President & Chief Executive Officer.
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