KKR to Acquire Janney Montgomery Scott from Penn Mutual

July 23, 2024

Following the close of the transaction, Janney will become a standalone private company that will continue to operate independently.

KKR, a leading global investment firm, and The Penn Mutual Life Insurance Company announced on July 23, 2024, the signing of a definitive agreement under which investment funds managed by KKR will acquire Janney Montgomery Scott LLC. 

“We are excited to enter this next chapter in our nearly 200-year history with a new value-added strategic partner. KKR has demonstrated they value our client- and advisor-centric culture and share our deep conviction in the tremendous opportunities ahead for our business,” said Tony Miller, President at Janney. “We look forward to working with KKR to invest further in our growth and enable our talented team to further improve the advice and services we offer our clients.”

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