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ADIA acquires minority stake in Fisher Investments

Money, Dollar, Adult Reuters/Dado Ruvic
The investment in Fisher Investments will be between $2.5 billion and $3 billion, valuing it at $12.75 billion

Private equity firm Advent International and a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) have agreed to take up a minority stake in US investment adviser Fisher Investments.

The investment will be between $2.5 billion and $3 billion, valuing Fisher Investments at $12.75 billion.

The deal, which is expected to close later this year, is subject to approvals. 

No details were given on the investment made by ADIA and its shareholding.

Ken Fisher will remain as Fisher Investments’ executive chairman and co-chief investment officer, while Damian Ornani will continue as chief executive.  

Investors in the Advent vehicles include Lunate Capital managed funds, Mousse Partners and South Korea’s National Pension Service.

After the transaction closes, Fisher will retain a majority of ownership, exceeding 70 percent. Upon closing, David Mussafer, managing partner at Advent will join the board of directors at Fisher Investments.

The US company manages over $275 billion for over 150,000 clients globally.

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