Fisher Sells Stake of Up to $3 Billion to Advent, Abu Dhabi Fund
- Transaction values closely held company at $12.75 billion
- Ken Fisher says deal ensures his firm’s long-term independence
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Private equity firm Advent International and a unit of the Abu Dhabi Investment Authority are buying a minority stake in billionaire Ken Fisher’s Fisher Investments worth as much as $3 billion.
The transaction, in which the acquirers will invest at least $2.5 billion, values closely held Fisher at $12.75 billion, the money-management firm said Sunday in a statement. The deal is part of Ken Fisher’s estate planning, according to the company, and will let Fisher Investments continue to operate independently.