Warburg Pincus has put a portfolio company, Association of Certified Anti-Money Laundering Specialists, up for sale, three sources familiar with the situation said.
Raymond James is advising on the auction, the sources said. Warburg just received first-round bids for ACAMS, one of the sources said.
Warburg is seeking bids in the “mid-double-digit multiples,” or $250 million to $300 million, two of the sources said.
The investment is relatively old. Warburg invested in ACAMS in 2006 when it was known as Alert Global Media, then a Miami-based publisher of moneylaundering.com and Money Laundering Alert, according to a statement from that time. The company also provided anti-money-laundering conferences and training for financial professionals.
ACAMS currently has 33,000 members worldwide, a February statement said. ACAMS is dedicated to “enhancing the knowledge and expertise of anti-money laundering and financial crime detection and prevention professionals” in the public and private sectors, a profile on the Warburg site said.
Warburg, a New York private-equity firm, invests in sectors including financial services, health care and consumer, as well as technology, media and telecommunications. Last year, Warburg closed its 12th global private equity fund at $12 billion. Warburg’s Fund XI collected $11.2 billion in 2012, while the firm’s 10th fund, its biggest, raised $15 billion in 2007.
Warburg Fund XI is generating a 17.93 percent net IRR and a total value multiple of 1.3x as of Sept. 15, performance data from the Washington State Investment Board said. Warburg’s 10th fund is generating a 7.65 percent net IRR and a 1.4x investment multiple, the WSIB said.
Performance data for Warburg Fund XII was not available.
Executives for Warburg declined comment. ACAMS and Raymond James could not be reached for comment.
Action Item: To contact ACAS: firstname.lastname@example.org