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Private equity giant eyes sale of Lombard International?

By Cristian Angeloni, 11 Dec 20

It is reportedly working with Bank of America Merrill Lynch following several offers

European watchdog warns of investment fund ‘fire sales’

Private equity firm Blackstone is reportedly looking to sell wealth firm Lombard International.

The move stems from receiving a series of unsolicited bids for the company, according to Sky News.

As a result, reports state Blackstone is currently working with advisers at Bank of America Merrill Lynch on the potential sale.

The private equity giant acquired the wealth management business in 2014 from Friends Provident for around €400m (£361m, $483m).

Sky News sources have warned that a deal is far from certain.

According to reports, several insurance and financial services firms have shown interest in Lombard International, which on analyst believes could be priced at approximately €700m.

International Adviser contacted Blackstone and Lombard International but both firms declined to comment.

Tags: Blackstone | Lombard International

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International Adviser covers the global intermediary market that uses cross-border insurance, investments, banking and pension products on behalf of their high-net-worth clients. No news, articles or content may be reproduced in part or in full without express permission of International Adviser. Site managed by Furness Media