Seattle-based Russell Investments, consultant to sponsors of defined contribution plans that offers its own proprietary line of off-the-shelf target-date funds, among other things, is on the block again, and the hammer seems already to have fallen.
The London Stock Exchange Group acquired asset management firm Russell when it bought the Frank Russell Co. business last year for $2.7 billion.
But now LSE has announced plans to sell off the investment management unit to a private equity group for considerably less than it paid in June of 2014.
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