Altruist CEO Jason Wenk on selling to Vanguard

Altruist saw a sale to Vanguard as a better long-term bet than going public, CEO Jason Wenk tells Axios Pro.

Driving the news: Vanguard on Wednesday announced an agreement to acquire Altruist, which it first backed as a strategic investor in 2020.

• The deal valued Altruist at $4.6 billion, Axios learned. Wenk declined to comment.