Investcorp agreed on 29 July to acquire a majority stake in Berger Financial Group, a Minnesota registered investment adviser with about $3bn in client assets.
Why Investcorp is buying Berger Financial Group (majority stake)
Investcorp said the deal followed a multi-year search for an investment in North American wealth management and gives it exposure to retirement savers across the United States.
Deal terms and financing
Berger's management and advisers keep significant ownership. Terms were not disclosed.
Market context
Berger was founded in 1981 and has grown organically and through acquisitions. Investcorp manages about $62bn.
