A team of Goodwin Procter attorneys recently advised TA Associates on its announced agreement to acquire Russell Investments, the asset management business of Frank Russell Company, from the London Stock Exchange Group plc (LSE.L). Goodwin also advised Reverence Capital Partners on its significant minority investment in Russell Investments. The transaction, valued at $1.15 billion, is subject to regulatory approval and is expected to close in the first half of 2016.
Russell Investments is a global investment manager with both institutional and retail clients worldwide. The firm has $266 billion in assets under management as of June 30, 2015 and focuses on a multi-asset solution approach. Russell Investments also offers consulting services with $2.4 trillion of assets under advisory as of December 31, 2014. Based in Seattle, Wash., the firm was founded in 1936 and has 21 offices around the globe.
TA Associates is a global growth private equity firm. The firm has invested in more than 450 companies around the world and has raised over $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the technology, financial services, business services, healthcare and consumer industries.
Reverence Capital Partners is a private investment firm focused on investing in financial services companies. The firm’s partners bring over 90 years of experience across a wide range of financial services sectors, including asset management, banks and specialty finance, capital markets, financial technology and insurance. Reverence was founded in 2013 by Milton Berlinski, Peter Aberg and Alexander Chulack, and is located in New York City.
The Goodwin team advising TA and Reverence Capital was led by partners John LeClaire, Amber Dolman, Tom LaFond, Chris Wilson, Laura Rupenian, Howard Cubell and Richard Lever, and included associates Betsy Burke and Jessica Taubman.
Additional information regarding the transaction is available in the London Stock Exchange press release.