Northwestern Mutual sells Russell for $2.7 billion

Special to The Freeman

Dec. 3, 2014

MILWAUKEE Northwestern Mutual has completed a $2.7 billion sale of its subsidiary Frank Russell Company, also known as Russell Investments.

Proceeds from the sale will further boost the 2014 financial results of the Milwaukee-based mutual company.

Northwestern Mutual manages more than $184 billion in invested assets as part of its general account investment portfolio, which backs its insurance and annuity products.

Goldman, Sachs & Co. and J.P. Morgan Securities LLC acted as financial advisors to Northwestern Mutual on this transaction.