Bloomberg reported Northwestern Mutual prefers to sell Russell in whole, not to separate the asset management and indexing units.
In late January, Pensions & Investments reported, citing sources, private equity firms KKR & Co., Apollo Global Management LLC, Hellman & Friedman LLC, Carlyle Group and Genstar Capital could also be interested in Russell.
It is expected a buyer for Russell could be found by the start of the third quarter.
ETF Trends editorial team contributed to this post. Tom Lydon’s clients own shares of IWC and IWM.