By Sabela OjeaWells Fargo has sold about $2 billion of private equity investments in certain Norwest Equity Partners and Norwest Mezzanine Partners funds to a group of investors. The divestment comes as the bank continues to focus on its core businesses and customers, Chief Financial Officer Mike Santomassimo said Friday. Wells Fargo will maintain its relationship and investments with venture capital and growth equity investment firm Norwest Venture Partners, the bank added. Write to Sabela Ojea at sabela.ojea@wsj.com(END) Dow Jones NewswiresSeptember 29, 2023 16:58 ET (20:58 GMT)Copyright (c) 2023 Dow Jones & Company, Inc.

Source: Wall Street Journal September 30, 2023 09:04 UTC