Private-equity firm Advent International is in talks to acquire money-management firm Fisher Investments, according to a Wall Street Journal report late Tuesday.
No further details were revealed, and the Journal reported that it’s possible no deal will be made, or that other suitors for Fisher’s firm will emerge.
Neither Fisher nor Advent immediately responded when asked for comment.
Billionaire Ken Fisher founded Fisher Investments in 1979. It manages about $236 billion in assets worldwide, according to its website. Fisher moved from CEO to executive chairman and co-chief investment officer in 2016.
Clients withdrew millions from Fisher’s fund in 2019, after he made lewd comments during an interview at a financial-industry conference. Fisher later apologized for his remarks.
Last year, he moved his firm’s headquarters from Washington state to Texas, citing Washington’s high capital-gains tax.
Advent focuses on buyouts, with $92 billion in assets under management, according to its website. In November, Advent named Tricia Rothschild as an operating partner, and said she would play “a key role” in finding new investments in wealth and asset management.
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