The Federal Trade Commission approved Affiliated Managers Group’s plan to buy Pantheon Ventures.
Pantheon, a London-based private equity shop, is owned by Russell Investments; Russell is owned by Northwestern Mutual Life Insurance. The FTC was involved because of the size of the deal.
In February, AMG said it would pay at least $775 million for Pantheon, the highest purchase price the holding company has paid for an investment since it was founded 17 years ago.
The deal is expected to close during the second quarter.