On July 17, 2018, Genstar announced it had acquired a majority stake in Cetera.
Under the terms of the transaction, Genstar Capital (“Genstar”) will assume majority equity control of Cetera Financial Group (“Cetera”) with Cetera’s leadership team maintaining an ownership position. The transaction is subject to customary regulatory approvals and is expected to close in the third quarter of 2018. Further terms of the deal were not disclosed.
Genstar, headquartered in San Francisco, is a leading private equity firm focused on the financial services, software, industrial technologies and healthcare industries, with approximately $10 billion in assets under management.
Cetera is a national network of independent financial advising firms and financial advisors.
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