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General Electric (GE) Mulls Sale of Asset Management Unit

General Electric Company (NYSE:GE) Company is exploring opportunities to sell its asset management unit to a leading investment management firm. GE Asset Management had $115 billion in assets under management (AUM) as of June 30, 2015.

GE is looking for buyers that have considerable experience in managing retirement plan assets, scale, and broad distribution capabilities to support the continued growth of the third-party client base of its asset management unit.

GE to appoint independent fiduciary to review the transactions

According to GE, it will appoint an independent fiduciary to review the transaction. The independent fiduciary will approve the asset manager that will be engaged to manage the assets related to the company’s benefits plans (including GE pension plan)...