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Wells Fargo sells stakes in Minneapolis-based legacy Norwest units in $2B deal

Summary by Ground News
Wells Fargo & Co. sells off $2 billion in private equity investments that it has held since 1998. The assets are being acquired by a buyer group including Adams Street Partners, Carlyle Group subsidiary AlpInvest Partners. The two firms will now operate as one combined entity: Norwest Capital Advisors.

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Star TribuneStar Tribune
Lean Left

Wells Fargo sells stakes in Minneapolis-based legacy Norwest units in $2B deal

The deal includes Norwest Equity Partners, the oldest private investment firm in the Twin Cities.

·Minneapolis, United States
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The Business JournalsThe Business Journals
Center

Norwest investment firms combine after $2B Wells Fargo sale

Norwest Equity Partners and Norwest Mezzanine Partners, two investment firms that predate Norwest Bank's transformation into Wells Fargo, will operate under a single entity — Norwest Capital Advisors — after Wells Fargo sold off $2 billion worth of investments in the funds to private equity players.

·United States
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  • 50% of the sources lean Left, 50% of the sources are Center
50% Center
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The Business Journals broke the news in United States on Monday, October 2, 2023.
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