The independent, fee-only investment adviser didn’t take too kindly to a story in The Wall Street Journal claiming that the firm was in talks to be acquired.
The article first posted Jan. 2 by the Journal had reported that Fisher Investments was participating in discussions to be acquired by private equity firm Advent International, citing “people familiar with the matter.” The article had also suggested that the “talks might not lead to a transaction and it is possible another suitor could emerge for Fisher.”
But according to a press release issued after the Journal article was published, the firm founded by Ken Fisher in 1979 strongly denied that any deal was in the works, saying in bold typeface that “Fisher Investments is not being bought by Advent International, or anyone else—plain and simple.”
The release further remarked that the story is false, adding that attributing the story to “sources familiar with the matter” was PR parlance for “rumors.”
Fisher Investments also contended that the story had numerous other inaccuracies. “Had The Wall Street Journal's reporters bothered to verify the facts, we would have corrected their reporting. Instead, The Wall Street Journal printed the rumors first and followed up with us last,” the firm stated in its release.
Fisher, who previously served as CEO for 37 years and now serves as executive chairman and co-chief investment officer, wrote the Forbes “Portfolio Strategy” column for over 32 years until 2017, and now writes monthly for the New York Post. He also has written 11 investing and finance books, including four New York Times bestsellers.
As of the end of 2023, Fisher Investments and its subsidiaries managed over $236 billion in assets globally—over $196 billion for private investors, $35 billion for institutional investors and $4 billion for U.S. small-to-mid-sized business retirement plans.
