Secondary acquisition of Wells Fargo interests in NEP and NMP private equity funds

Wells Fargo announced the completed sale of approximately USD 2 billion of private equity investments in funds managed by Norwest Equity Partners and Norwest Mezzanine Partners to institutional buyers. Lazard advised Wells Fargo. The figure describes approximate investments sold and is not an exact cash purchase price. The sale concerned fund interests and did not transfer the management companies or Wells Fargo’s separate Norwest Venture Partners relationship. A separate exact closing day was not disclosed.