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Wells Fargo sells $2 billion of private equity investments
  + stars: | 2023-09-29 | by ( ) www.reuters.com   time to read: +1 min
A Wells Fargo logo is seen in New York City, U.S. January 10, 2017. REUTERS/Stephanie Keith/File Photo Acquire Licensing RightsSept 29 (Reuters) - Wells Fargo (WFC.N) said on Friday it had sold about $2 billion of its private equity investments as the bank aims to sharpen focus on its core businesses. "With this transaction, we are continuing with our strategic efforts to focus on Wells Fargo's core businesses and customers," Wells Fargo CFO Mike Santomassimo said. The investments were in certain funds managed by Norwest Equity Partners and Norwest Mezzanine Partners. They were sold to a group of buyers that included private equity firm Carlyle Group's (CG.O) unit AlpInvest Partners, Atalaya Capital Management, Lexington Partners and Pantheon, according to Wells Fargo.
Persons: Stephanie Keith, Wells, Mike Santomassimo, Carlyle Group's, Lazard, Niket, Shounak Dasgupta Organizations: REUTERS, Federal Reserve, Norwest Equity Partners, Partners, AlpInvest Partners, Atalaya Capital Management, Lexington Partners, Thomson Locations: New York City, U.S, Wells Fargo, Bengaluru
Clearlake Capital, another private equity firm, invested in RSA the following year. Last year, RSA sold a majority stake in its events business, RSA Conference, to private equity firm Crosspoint Capital Partners for an undisclosed amount. Archer, headquartered in Bedford, Massachusetts, is a governance, risk and compliance software platform with over 15,000 users globally. RSA's other business divisions include identity and access management platform SecureID and threat detection and response software platform NetWitness. Archer is not the only risk management software vendor up for sale in the United States.
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