Advent International and a unit of the Abu Dhabi Investment Authority have completed their $3 billion minority investment in Ken Fisher’s namesake firm, Fisher Investments.
The common stock investment by Advent and ADIA was first reported in June. The $3 billion investment values Fisher Investments at $12.75 billion, according to the announcement of the deal’s closing.
The investment in common shares includes neither options nor non-common stock preferences and includes proportional voting to the investors’ beneficial ownership in Fisher Investments.
Stakeholders have portrayed the transaction as part of Ken Fisher’s long-term estate plan rather than an immediate strategy or leadership transition, noting that the firm’s founder retains 70% of its voting shares and will continue in his current role as executive chairman and co-chief investment officer.
