KKR将从Penn Mutual收购Janney Montgomery Scott

2024-07-24 04:57

Investment funds managed by private equity firm KKR (NYSE:KKR) agreed to acquire Janney Montgomery Scott LLC from Penn Mutual Life Insurance Company.
Janney, a wealth management, investment banking, asset management firm, has more than $150B in assets under administration and more than 900 financial advisors providing financial planning, asset allocation, retirement planning, and other financial advice and services to clients across 135 offices in the U.S.
The firm "is well-positioned to benefit from the significant tailwinds driving demand in the U.S. wealth management market," said KKR Partner Chris Harrington.
As it has done in many of its recent acquisitions, KKR will start a broad-based equity ownership program to give Janney's 2,300 employees the opportunity to own a stake in the company after the transaction closes. Since 2011, more than 50 KKR portfolio companies have awarded billions of dollars of total equity value to over 100,000 non-senior management employees.
KKR (KKR) is making its investment in Janney primarily through its North America Fund XIII. Terms of the transaction weren't disclosed.

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