Allspring Wealth Manager Considering Sale According to Report
Wealth manager Allspring is reportedly being considered for sale by its private equity owners, GTCR and Reverence Capital. The firm was acquired in 2021 from Wells Fargo for $2.1 billion as part of the bank's strategy to streamline operations. Currently managing $642 billion in assets with over 360 investment professionals across 18 offices, Allspring may be valued at around $4 billion according to sources cited by the Financial Times. The potential sale comes amid a wave of significant deals within the asset management sector this year, including Nuveen's acquisition of Schroders for £9.9 billion and Victory Capital’s purchase of First Eagle following an earlier failed attempt to acquire Janus Henderson. The latter was eventually acquired by Trian Fund Management led by Nelson Peltz. Allspring is currently under the leadership of CEO Kate Burke, who succeeded Joseph Sullivan in July 2025. Employees hold approximately 20% of Allspring's shares.
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Topics: Asset Management Corporate Restructuring Private Equity Wealth Management