KKR, a leading global investment firm and The Penn Mutual Life Insurance Company, announced the signing of a definitive agreement under which investment funds managed by KKR will acquire Janney Montgomery Scott LLC.
Tracing its roots to 1832, Janney is a leading wealth management, investment banking and asset management firm. Janney has more than $150 billion in assets under administration, with more than 900 financial advisors providing financial planning, asset allocation, retirement planning and other financial advice and services to clients across 135 offices in the United States.
After the close of the transaction, Janney will become a standalone private company that will continue to operate independently.
“We are excited to enter this next chapter in our nearly 200-year history with a new value-added strategic partner. KKR has demonstrated they value our client- and advisor-centric culture and share our deep conviction in the tremendous opportunities ahe
