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Deal Close For Advisor Group

by posted 11months ago 43 views
Bloomberg is reporting that Reverence Capital Partners is nearing a deal to buy independent broker-dealer Advisor Group Inc. from Lightyear Capital. Investment banking sources said Reverence was likely to pay between $2.1 billion and $2.4 billion. Reverence is a private equity firm launched by Milton Berlinski, the former head of financial services investment banking at Goldman Sachs. Lightyear was thought to be retaining an equity stake of 10 percent in Advisor group, the sources added. An agreement could be announced as soon as Thursday, Bloomberg reported, citing people with knowledge of the matter said.

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