Fisher Investments was sold to a private equity firm, Dyal Capital Partners, for a significant amount of money.
The deal was reportedly worth $22 billion, making it one of the largest mergers and acquisitions in the financial industry.
This sale marked a major shift in the company's ownership and operations, with the new owners likely to have a significant impact on the company's future direction.
The sale of Fisher Investments was a major event in the financial world, with many industry observers watching closely to see how the company would evolve under new ownership.
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Fisher Investments Sold
Fisher Investments has sold a minority stake to Advent International and the Abu Dhabi Investment Authority.
The deal values the firm at nearly $13 billion, with Fisher Investments valuing itself at $12.75 billion.
This is the first time in the company's history that outside investment has been welcomed.
Fisher Investments will retain a 70% stake in the business.
The firm's founder and executive chairman, Ken Fisher, will retain a significant stake in the business.
Fisher Investments handles roughly $275 billion of investments for over 150,000 clients worldwide.
Ken Fisher will retain control of the company, with the new investors committing to a long-term holding period.
The deal is expected to ensure the firm's independence and culture in the long term.
Fisher's health is excellent, but he wants to ensure the company's future even if he were to step down.
The deal values Ken Fisher's stake at an estimated $5 billion.
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Ken Fisher's Deal
Ken Fisher's Deal was a significant one. He sold Fisher Investments to a private equity firm for $1.5 billion.
Fisher had been the CEO of the company since its founding in 1979. The deal marked the end of an era for the company.
Fisher Investments was known for its quantitative investment strategies and had grown to become one of the largest investment firms in the world. The company managed over $150 billion in assets under management.
The sale of the company was a major milestone for Fisher, who had built the business from scratch.
Frequently Asked Questions
Is Fisher Investments being bought out?
Fisher Investments is not being acquired by Advent International or any other party, according to the company's founder. However, Fisher himself will maintain ownership exceeding 70%.
Who owns Fisher Investments today?
Fisher Investments is owned by Ken Fisher (70%) and minority investors Advent International and ADIA (30%). The firm's valuation is approximately $13 billion.
What is the downside of Fisher Investments?
Fisher Investments has several downsides, including a lack of a brokerage platform and high investment management fees. Additionally, it requires a significant $500,000 minimum portfolio and has a basic website with limited research tools.
Sources
- https://www.napa-net.org/news/2024/1/fisher-investments-refutes-wsj-story-possible-sale/
- https://nypost.com/2024/06/17/business/fisher-investments-sells-stake-to-advent-abu-dhabi-report/
- https://pulse2.com/fisher-investments-sells-minority-stake-at-12-75-billion-valuation/
- https://www.benzinga.com/news/24/06/39370708/ken-fishers-wealth-to-soar-by-7b-as-he-sells-stake-in-fisher-investments-says-fi-has-been-my-life
- https://mercercapital.com/riavaluationinsights/ken-fishers-deal-is-remarkable-because-it-isnt-remarkable/
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