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Private equity firms TPG Capital and Madison Dearborn Partners are the two finalists bidding for National Financial Partners, a New York-based wealth management company with a market value of nearly $900 million, people familiar with the matter said.
NFP, which is run by Sandy Weill’s daughter, Jessica Bibliowicz, could be valued at around $1 billion in a deal, the people said Wednesday, asking not to be named because details of the auction are confidential.
NFP said March 13 that it has decided to explore a sale after indications of interest from private equity firms, confirming a Reuters report the previous day.
Representatives for NFP, TPG and Madison Dearborn did not immediately respond to requests for comment.
