Fisher Investments valued at nearly $13B as it sells stake to Advent, Abu Dhabi: report

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Fisher Investments — nan elephantine finance money headed by billionaire Ken Fisher — has sold a number liking successful nan patient that values it astatine astir $13 billion.

Under nan deal, Boston-based backstage equity patient Advent International and nan Abu Dhabi Investment Authority will put astatine slightest $2.5 cardinal successful Fisher Investments, a intimately held patient that values itself astatine $12.75 billion, nan institution said successful a connection connected Monday.

The firm’s laminitis and executive chairman, who is worthy an estimated $5 billion, said nan statement would guarantee nan firm’s “independence” if he ever decides to guidelines down.

Ken Fisher said nan statement would guarantee his firm’s ‘independence’ if he ever decides to guidelines down. REUTERS

“While my wellness is excellent, this transaction pinch an atypically agelong holding play for a backstage equity transaction will guarantee FI’s semipermanent backstage independency and civilization should thing untoward hap to me,” Fisher said successful a statement.

It is nan first clip successful nan history of nan company, tally by 73-year-old Fisher since 1979, that it has welcomed immoderate extracurricular investment, pinch shareholders being constricted to nan Fisher family and employees.

Fisher — who successful summation to moving nan patient besides is simply a regular financial columnist for The Post — will clasp a 70% liking successful nan business, The Wall Street Journal reported.  

Fisher Investments says it handles astir $275 cardinal of investments for much than 150,000 clients worldwide.

Reports that a number liking successful Fisher Investments was up for grabs first surfaced successful January of this year.

Wall Street signFisher Investments says it handles astir $275 cardinal of investments for much than 150,000 clients worldwide. REUTERS

The institution switched its office from Washington authorities to Texas past twelvemonth complete hikes successful superior gains taxes.

Fisher served arsenic CEO for 37 years earlier he handed nan reins complete to Damian Ornani successful 2016.

Advent, founded successful 1984, snapped up Nuvei, a Canadian payments exertion institution that has received financial backing from character Ryan Reynolds, successful April successful a woody worthy adjacent to $6 billion. 


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