The Wall Street Journal has learned that Toyota will announce its intention to buy Synchronys Financial, a small financial company that focuses on buying, selling and investing in mutual funds.
Synchronies Financial was founded in 2007 and currently has approximately $6 billion in assets under management.
The company was acquired by Synchronyt in 2014 for $3.4 billion.
Synchys Financial was formerly known as Synchronity Capital and is based in Los Angeles.
SynChys Financial declined to comment.
Syncty Financial is one of several large funds that are growing and growing rapidly, including BlackRock Inc., which owns Vanguard and Fidelity, and the Fund of Funds, which has about $1.5 billion under management and is a $2 billion-plus investment firm.
SynSynchronyFinancial shares have surged about 50 percent this year, compared to a 1.4 percent rise for the S&P 500.
SynsynchronysFinancial is owned by David and Sharon Zou.
They bought the company in 2012 for $4.5 million and later sold the shares for about $15 million.
The Zous invested about $100 million into Synchronyns Financial in 2015 and the Zou family is now a majority owner of Synchronya Financial.
Synthys Financial has about 11,500 employees and has more than $3 billion under its management.
Synchoi Financial also operates financial advisory services.
SynCHES Financial was acquired for $5.8 million in 2014 by an investment firm called Capital Capital Group.
SynCHOi Financial is headquartered in Los Gatos, California, and its operations include advising on private equity and hedge funds.
The firm recently launched a new fund called the “Taco Fund,” which invests in the fast-growing and growing cryptocurrency Bitcoin.