January 19, 2014 / 11:49 PM / 4 years ago

Warburg Pincus buys stake in European ETF provider: report

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NEW YORK (Reuters) - U.S. private equity firm Warburg Pincus has bought a majority stake in a European exchange traded fund provider, in a deal that will give the asset manager new funds to expand offerings and grow through acquisitions, the Financial Times reported on Sunday.

Warburg Pincus purchased the stake in Source from a group of banks that included Bank of America Merrill Lynch and Goldman Sachs, according to the report that valued the investment at about $300 million.

Reporting by Chris Prentice; Editing by Chris Reese

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