Private equity firms Genstar Capital and Aquiline Private Equity LLC have teamed up and are in exclusive negotiations to purchase Genworth Financial Inc's wealth management business and its San Francisco-based alternative investment business, two sources familiar with the situation said.Genworth is working with Goldman Sachs Group Inc, according to the sources, who declined to be identified because the talks are confidential.Genstar and Aquiline are working with Deutsche Bank AG , said one of the sources, who estimated that the deal for both businesses would be valued at $400 million to $450 million.A Deutsche Bank spokeswoman declined to comment, as did a Genstar spokesman.
Deutsche Bank AG is a Germany-based global investment bank. Shares of DB fell by 1.03% or $-0.51/share to $48.90. In the past year, the shares have traded as low as $27.03 and as high as $53.12. On average, 1486340 shares of DB exchange hands on a given day and today's volume is recorded at 506509.
The Goldman Sachs Group, Inc. (Goldman Sachs) is a global investment banking, securities and investment management firm that provides a range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Shares of GS traded higher by 0.37% or $0.56/share to $152.16. In the past year, the shares have traded as low as $90.43 and as high as $152.50. On average, 4149430 shares of GS exchange hands on a given day and today's volume is recorded at 842837.
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