It's not common for a venture capital firm to buy a 90-year-old business from private equity
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B Capital and CalPERS on Wednesday agreed to acquire Russell Investments from TA Associates and Reverence Capital Partners.
Why it matters: It's not normal for a venture capital firm to buy a 90-year-old business from private equity, but we could see more of this as legacy industry looks to AI for growth and relevance.
Both funds are major departures from historical precedent.
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