On the heels of its $328 million loss in the first quarter, down from a $81 million profit in the first quarter of 2008, American Airlines' parent company, AMR Corp., Fort Worth, Tex., announced on Wednesday it is unloading 90% of its American Beacon Advisors investment management unit for $480 million in cash.

That 90% interest is being picked up by Lighthouse Holdings, an affiliate of two private equity firms: Pharos Capital Group of Dallas and TPG Capital of Forth Worth. The sale is expected to close this summer, pending the approval of American Beacon's shareholders and clients.

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