Asset International, the company that owns PlanSponsor and PlanAdviser, is in active discussion with potential buyers, according to a report by The Deal (subscription required). Austin Ventures, led by “CEO in residence” Jim Casella, bought AI in 2008 and added mutual fund research company Strategic Insight in 2009 along with other, smaller enterprises. The company has focused on data and research, publishing and events in the financial services market.
AI was founded by Charlie Ruffel, who now leads investment banking firm Kudu Advisors along with Nick Platt, a cohort from AI. Not long after the company was sold, Editor in Chief Nevin Adams departed for EBRI. AI was a leader in the plan advisor movement with their magazine and annual conference held in the fall. Potential suitors include private equity firms and strategic buyers. AI is represented by JP Morgan.
