Debevoise & Plimpton LLP is advising Parnassus Investments, the largest ESG-dedicated fund manager in the U.S., in its agreement to sell a majority equity interest to Affiliated Managers Group, Inc. (NYSE: AMG). Upon closing of the agreement, Parnassus partners will continue to own a substantial portion of the equity of the firm and direct its day-to-day operations consistent with AMG’s partnership approach, which is recognized by the marketplace for preserving the operating and investment independence of AMG Affiliates. For more information, please see the companies’ joint press release.

The Debevoise team is led by M&A partner William Regner and includes associates Vishaal Sharma, Yean Do and Daniel Randazzo, investment management partner Marc Ponchione, benefits partner Jonathan Lewis and associate David Deutsch, tax partner Peter Furci and associate Kimberly Lee, and litigation associate Roy Sengupta.