AMR Corporation, parent of American Airlines, has announced an agreement to sell its American Beacon Advisors unit, manager of over $11 billion in money funds, including the top-performing American Beacon Money Market Select Fund. The advisor will be purchased by private equity firm Lighthouse Holdings, an affiliate of TPG Capital, for $480 million. AMR will retain a minority stake. The release says, "American Beacon currently provides a number of services for AMR and its affiliates, including cash management.... AMR anticipates that it will continue its relationships with American Beacon after the closing."

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