Allspring owners weigh potential US$4 billion sale
GTCR and Reverence Capital are preparing the wealth manager for a possible sale, but discussions remain preliminary and no decision has been made.
Private equity firms GTCR and Reverence Capital are considering a potential sale of Allspring Global Investments, according to a Financial Times report cited by Yahoo Finance.
The talks remain at an early stage and no decision has been made, the report said. Unnamed sources indicated Allspring could be valued at roughly US$4 billion, although that figure has not been confirmed.
GTCR and Reverence acquired Allspring from Wells Fargo for US$2.1 billion in 2021, after Wells Fargo separated its asset-management business as part of efforts to reduce expenses and simplify its operations.
Allspring oversees about US$642 billion in assets and employs more than 360 investment professionals across 18 offices. Chief executive Kate Burke replaced Joseph Sullivan in July 2025, while employees hold about 20 per cent of the company’s shares, according to its website.
The potential sale comes amid wider consolidation in asset management, including transactions involving Schroders, First Eagle and Janus Henderson.
