The estate committee of Microsoft co-founder Paul Allen sells its stake in an $11 billion asset management company

The estate committee of Paul Allen has sold its stake in Cercano Management. The company was once part of the private investment firm of the Microsoft co-founder. This is the first time Cercano has been fully owned by employees since it was spun off from the Allen family office four years ago. The company will continue to manage investment assets on behalf of the Allen estate committee and family foundation. Currently, the company manages approximately $10.5 billion in assets, with investments spanning public markets, private equity, and real estate