An investor consortium led by B Capital and including CalPERS will provide long-term capital to expand Russell Investments’ client capabilities and accelerate innovation
NEW YORK & SEATTLE, July 09, 2026–(BUSINESS WIRE)–Russell Investments, the global investment solutions provider, today announced that an investor consortium (the “Investor Consortium”) led by B Capital, a global multi-stage investment firm, and including California Public Employees’ Retirement System (“CalPERS”), has agreed to acquire the firm from TA Associates (“TA”) and Reverence Capital Partners (“RCP”). The transaction comes as Russell Investments marks over $416 billion in global assets under management (AUM) and has experienced more than 15% organic growth over the past two years.
Russell Investments has been a trusted, independent partner to its clients for over 90 years. Its open-architecture model delivers portfolio solutions that source from the full landscape of the asset management industry across public and private markets. With a shared vision for the company’s next phase of growth, the new owners are bringing to Russell Investments long-term capital, advanced technology expertise, and experience scaling next-generation businesses in transforming industries.
“Helping people build long-term financial security is one of the defining challenges of our time,” said Zach Buchwald, CEO of Russell Investments. “We’re excited to partner with these world-class investors because we share a long-term view of investing and the belief that it can meaningfully improve people’s lives. Together, alongside our clients, we’ll build a future where more people have access to the expertise and investment solutions they need to achieve their goals.”
With the backing of the Investor Consortium, Russell Investments plans to extend its open architecture approach to more investors through technology, greater customization, analytics, and increased access. The firm will continue investing in the expertise and capabilities that seek to deliver best-in-breed portfolios at scale. It also sees significant runway across its key businesses: institutional outsourcing, portfolio implementation, personalized solutions and model portfolios, tax-managed investing, and self-directed investing through a multi-manager framework.
“As global investors in transformative technologies, we firmly believe the future of asset management lies at the intersection of investment expertise, personalized client service, and innovation,” said Eduardo Saverin and Raj Ganguly, Co-Founders and Co-CEOs of B Capital. “From OCIO and pension consulting to innovative indexes and smart beta, Russell Investments has always been a trailblazing firm built on client trust. We look forward to partnering with Zach and the entire team to bring even more advanced technology and relationship-focused investing to people around the world.”
