Nationwide Mutual Insurance Co. in Columbus, Ohio, announced the closing Monday of its sale of Gartmore Investment Management PLC, the London-based arm of its Gartmore Group, to Hellman & Friedman Advisors LLC, a San Francisco private equity investment firm.
The deal, announced in May, includes all of Gartmore's United Kingdom, European, Japanese, and Latin American businesses. Its terms were not disclosed.
Nationwide is to retain Gartmore's U.S. investment operation, Gartmore Global Investments Inc. The insurer has announced plans to re-brand its Gartmore-labeled funds in the United States.
