Wells Fargo Sells $2 Billion of Private Equity Investments in Core Business Refocus Plan
September 29 2023 - 5:13PM
Dow Jones News
By Sabela Ojea
Wells Fargo has sold about $2 billion of private equity
investments in certain Norwest Equity Partners and Norwest
Mezzanine Partners funds to a group of investors.
The divestment comes as the bank continues to focus on its core
businesses and customers, Chief Financial Officer Mike Santomassimo
said Friday.
Wells Fargo will maintain its relationship and investments with
venture capital and growth equity investment firm Norwest Venture
Partners, the bank added.
Write to Sabela Ojea at sabela.ojea@wsj.com
(END) Dow Jones Newswires
September 29, 2023 16:58 ET (20:58 GMT)
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