Centerbridge May Buy Advisor Group for $2B: Report
April 24, 2019 by Kiel Porter and Matthew Monks
Centerbridge Partners LP is in talks to buy independent broker-dealer Advisor Group Inc. for more than $2 billion, according to people familiar with the matter.
The private equity firm could reach a deal as soon as this week to acquire Advisor Group, said the people, who asked to not be identified because the matter isn’t public.
A deal hasn’t been finalized and talks could fall through, the people said. The Phoenix-based company, which has been working with an adviser to explore a sale, has drawn interest from other private equity firms and broker-dealers, the people said.
American International Group Inc. sold Advisor Group in 2016 to private equity firm Lightyear Capital and the Public Sector Pension Investment Board of Canada.
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