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Rating:Pioneer Sale is Gavel-Ready Not Rated 0.0 Email Routing List Email & Route  Print Print
Wednesday, August 18, 2010

Pioneer Sale is Gavel-Ready

News summary by MFWire's editors

The sale of Pioneer Investments [see profile] may be about to kick into high gear. peHUB's Luisa Beltran reports that UniCredit Group is finishing up the pitch book for Pioneer to send out next month. [See MFWire's living timeline of the Pioneer auction for more details and history.]

peHUB also speculates on potential bidders, including: European banks like Amundi, BNP Paribas, Natixis and Societe Generale; Canadian-backed John Hancock and MFS (whom peHUB sees at a disadvantage since all of Pioneer's business worldwide is up for sale but those two would only be interested in the U.S. piece); European private equity firms like Apax Partners, BC Partners and Permira; and U.S. private equity firms like Bain Capital, Carlyle Group, Hellman & Friedman, KKR and TA Associates.

The pub estimates a price-tag of $1 billion for all of Pioneer, and $600 million to $700 million for the U.S. piece. Pioneer boasts $228 billion in assets, including $56 billion in the U.S., and UniCredit took Pioneer private in 2000 for $1.2 billion (and then combined it with its European asset management arm). 

Edited by: Neil Anderson, Managing Editor


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