Sep. 18 at 10:16 PM
Allspring Global Investments is exploring a potential sale that could value the asset manager at around
$4 billion, the Financial Times reported, citing people familiar with the matter. GTCR and Reverence Capital acquired the firm from Wells Fargo in 2021 for
$2.1 billion after the bank spun off its asset-management business.
The discussions remain at an early stage and no final decision has been made. A potential transaction would add to a wave of consolidation across the asset-management industry, as firms seek greater scale and efficiency.
Global asset-management deal value reached
$53.8 billion through the end of August, the highest level on record, according to Dealogic data cited by the FT. Allspring currently advises on about
$642 billion in assets and has more than 360 investment professionals across 18 offices.
$WFC