Case Study
January 19, 2017

Skills to Seal the Deal

Goodwin advised TA Associates and Reverence Capital Partners on their $1.15b acquisition of Russell Investments. This transaction ranked as the second-largest U.S. asset management deal in 2015 and brought together an iconic global asset manager with two of the leading private equity investors in the asset management sector.

Client challenge

In considering the acquisition of Russell Investments, TA and Reverence faced a number of challenges, including competitive pressure, timing pressure and a highly complex, global target business. With so many moving parts and little time to master them all, TA and Russell turned to Goodwin for strategic, business and legal counsel.

Our approach

The multi-faceted, cross-border nature of the deal presented challenges demanding deep experience, coordination and dexterity across a number of Goodwin practice disciplines and offices. To meet these challenges, Goodwin assembled a coordinated team to overcome multiple hurdles and guide the clients at the intersection of asset management, private equity, sophisticated credit terms, bespoke management team arrangements, complex global regulation, the most sophisticated professionals, very tight time frames and more.

The result

The deal closed in June 2016, drawing widespread praise among the heads of all of the entities. “We are very pleased to complete the acquisition of Russell Investments and, together with Reverence Capital, begin our new relationship with this established and highly respected market leader,” said Todd Crockett, a managing director at TA Associates. Len Brennan, CEO of Russell Investments, added, “We see tremendous opportunities ahead as investors continue to shift toward a focus on achieving outcomes, and in turn look to Russell Investments to offer our multi-asset capabilities and solutions.”