BOSTON - (10/31/05) -- Linsco/Private Ledger, one of theleading credit union broker-dealers, agreed last week to sell amajority of the company to private buyout firms Hellman &Friedman LLC and Texas Pacific Group. The two well-known funds paidan estimated $750 million for a controlling 60% stake in thebrokerage, which provides retail services to more than 6,200financial institution, including more than 500 credit unions. LPL'sfounders and employees will retain the remaining 40% stake in thecompany, which claims dual headquarters in Boston and SanDiego.
Buyout Firms Acquire CU Linsco/PrivateLedger
October 31, 2005, 1:00 a.m. EST 1 Min Read
