AIG close to unit sale for $300 mln-$400 mln-source

NEW YORK Aug 3 (Reuters) - American International Group Inc (AIG.N) is close to selling its asset management business to a consortium that includes private equity firm Crestview Partners for $300 million to $400 million, a source familiar with the matter said on Monday.

A deal for the business would come months after it was put on the market.

AIG's unaffiliated client assets under management, including retail mutual funds and institutional accounts, were $63.5 billion as of March 31, down from $94.6 billion the previous year.

AIG and Crestview declined to comment. The source was granted anonymity because talks are private. (Reporting by Paritosh Bansal, Editing by Maureen Bavdek)