A week after rebranding its property/casualty arm, and in unison with the naming of a potential successor to its beleaguered CEO, American International Group Inc. is reportedly close to selling AIG Investments, its asset management business.

The insurer plans to divest the asset to a consortium that includes private equity firm Crestview Partners for $300 million to $400 million, Reuters reports a source familiar with the matter said yesterday.

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