Goldman Sachs Nears Deal for Investment Manager United Capital
May 10 2019 - 04:40PM
Dow Jones News
By Liz Hoffman
Goldman Sachs Group Inc. is nearing a deal to acquire investment
management firm United Capital Financial Partners Inc. expanding
its push into managing assets for individuals, according to people
familiar with the matter
The deal would be Goldman's biggest deal since the financial
crisis and could be announced as soon as Monday, the people
said.
United Capital, based in Newport Beach, Calif., manages some $24
billion in client assets and had more than 220 advisors. The exact
price couldn't be determined, but Goldman is paying several hundred
million dollars, some of the people said.
(More to come)
(END) Dow Jones Newswires
May 10, 2019 16:25 ET (20:25 GMT)
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