Private equity firm Advent International has held talks to acquire billionaire Ken Fisher’s eponymous Fisher Investments, according to a person with knowledge of the matter.
An agreement hasn’t been reached and it’s possible no deal will transpire, said the person, who asked not to be identified discussing confidential information.
An Advent spokesperson declined to comment. The Wall Street Journal earlier reported that talks were ongoing but said they might not lead to a transaction and it is possible another suitor could emerge for Fisher.
In a statement after the initial report by The Wall Street Journal, the company denied a sale was imminent in a statement, which read: “Fisher Investments is not being bought by Advent International, or anyone else.”
Fisher Investments oversaw $236 billion for about 145,000 clients including individuals and institutions as of Dec. 31, its website shows.
Ken Fisher founded the closely held firm in 1979, and last year moved its headquarters to the Dallas suburb of Plano after the highest court in Washington state said a capital gains tax on wealthy residents was constitutional.
The 73-year-old has an estimated net worth of $4.3 billion, according to the Bloomberg Billionaires Index.
Advent, which has made private equity bets since 1989, counts financial services among its areas of focus and has backed companies including Worldpay and Vantiv, its website shows.
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