Business

Owner of Overland Park’s Mutual Fund Store considering sale

Adam Bold, founder of The Mutual Fund Store, is still the chairman of the company. Warburg Pincus is considering selling it.
Adam Bold, founder of The Mutual Fund Store, is still the chairman of the company. Warburg Pincus is considering selling it. Star file photo

Warburg Pincus, one of the world’s largest private-equity firms, is considering selling the Overland Park-based Mutual Fund Store in a deal that could value the company at about $700 million, according to a Bloomberg News report.

The Wall Street firm has held talks with investment banks about exit options for the company, with a sale the preferred option, sources told Bloomberg. The sources asked not to be identified because the information is private.

The Mutual Fund Store was founded by Adam Bold in 1996. In 2011, Bold sold a majority stake in the business to Warburg Pincus. He remains chairman of the company.

The Mutual Fund Store serves more than 37,000 clients, according to its website. The company specializes in offering customers personalized investment advice. It has more than $8.5 billion in assets under management.

A spokeswoman for Warburg Pincus declined to comment, while a spokesman for The Mutual Fund Store didn’t immediately respond to telephone requests seeking comment.

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