KKR to acquire Janney Montgomery Scott from Penn Mutual.

KKR, a global investment firm, agreed to acquire Janney Montgomery Scott, a full-service wealth management, capital markets, and asset management firm, from Penn Mutual, a life insurance company. Financial terms were not disclosed. “We are excited to enter this next chapter in our nearly 200-year history with a new value-added strategic partner. KKR has demonstrated they value our client- and advisor-centric culture and share our deep conviction in the tremendous opportunities ahead for our business. We look forward to working with KKR to invest further in our growth and enable our talented team to further improve the advice and services we offer our clients,” Tony Miller, Janney President.