American International Group Inc, AIG is close to selling its asset management business to a consortium that includes private equity firm Crestview Partners for $300 million to $400 million, a source familiar with the matter said on Monday.
A deal for the business would come months after it was put on the market.
AIG’s unaffiliated client assets under management, including retail mutual funds and institutional accounts, were $63.5 billion as of March 31, down from $94.6 billion the previous year.
AIG and Crestview declined to comment.
The source was granted anonymity because talks are private.
