RHJ Completes Sale Of Its Interest In Ripplewood Advisors - Quick Facts

(RTTNews) - RHJ International (RHJIF.PK), a financial services group, Monday said it has completed the sale of its interest in Ripplewood Advisors LLC to an affiliate of Timothy C. Collins for cash consideration of $4 million.

Ripplewood Advisors was previously known as Kleinwort Benson Advisors LLC. The license of the name Kleinwort Benson Advisors has also been terminated.

According to the company, since its formation in January 2014, Ripplewood Advisors' pace of investment and capital needs have outpaced expectations.

After determining that RHJI is unwilling to fund its share of these capital needs, the firm agreed to sell its interest in Ripplewood Advisors to Collins.