LSE eyes possible deal for asset manager Russell

London Stock Exchange Group today said it was in talks to buy Russell, the US asset manager and share index compiler that has been put up for sale by The Northwestern Mutual Life Insurance Company.

The group said there was no certainty that a deal would be forthcoming, but any transaction would be partly funded through an equity raise.

Sign up to our daily newsletter

Russell manages about $260 billion (£154.1bn) in assets and counts the Bill & Melinda Gates Foundation Trust among its clients.

The firm also produces a range of equity indices, including the Russell 2000, which is a popular benchmark for US small-cap investment funds.