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Blackstone Mulls Possible Lombard International Deal - Report
Lombard International is one of the most prominent providers of insurance-based wealth management structures and solutions such as private placement life insurance. It operates in a number of regions.
Blackstone, the
private equity house that owns Lombard
International has started to examine a possible sale of the
wealth management business, a media report said.
According to Sky News, Blackstone is working with
advisors at Bank of America Merrill Lynch on a possible sale,
after unsolicited expressions of interest.
This news service has contacted Blackstone and Lombard
International about the matter and may update in due
course.
Lombard International, which operates in a number of
regions, is one of the most prominent providers of
insurance-based wealth management structures and solutions such
as private placement life insurance.
The report said that the firm had more than €47 billion ($61.9
billion) in assets under administration at the end of
June.
Blackstone bought Lombard in 2014 from Friends Provident for
about €400 million.
The Sky News story said that Blackstone declined to
comment.
