Allspring Global Investments officially commenced operations as an independent asset management firm. This marks the close of the acquisition of Wells Fargo Asset Management by GTCR and Reverence Capital Partners. The firm’s new name, Allspring Global Investments, takes effect immediately.
Avantor entered into a definitive agreement to acquire the Masterflex bioprocessing business and related assets of Antylia Scientific, a privately held, portfolio company of investment firms GTCR and Golden Gate Capital.
Wells Fargo Asset Management’s closed-end funds will change their names to include the name Allspring, with the name change expected to go into effect on Oct. 11. Wells Fargo Asset Management will also change its name to Allspring Global Investments.
Wells Fargo entered into a definitive agreement to sell Wells Fargo Asset Management to GTCR and Reverence Capital Partners for $2.1 billion. The sale includes Wells Fargo’s business of acting as trustee to its collective investment trusts and all related Wells Fargo Asset Management legal entities.
Antares served as lead left arranger and administrative agent on a senior secured credit facility to support GTCR’s acquisitions of Ultimus Fund Solutions and The Gemini Companies.
Asset management firm Barings served as joint lead arranger on a senior secured credit facility to support GTCR’s acquisition of a majority stake in Simpli.fi.
Antares Capital served as administrative agent and lead arranger for a senior secured credit facility to support the acquisition of Sage Payment Solutions by GTCR.
Fifth Street Management served as joint lead arranger for two credit facilities totaling $225 million, supporting mergers for two different portfolio companies of private equity firm GTCR.
Fifth Street Asset Management served as joint lead arranger and joint book manager for a first lien credit facility to support GTCR’s acquisition of Onvoy.