On July 28, 2021, iM Global Partner announced its acquisition of a 45% non-controlling stake in Richard Bernstein Advisors (RBA). Seward & Kissel was pleased to represent iM Global Partner in this investment management industry transaction.
iM Global Partner is a worldwide asset management network representing around $35 billion of assets under management. It selects and builds long-term partnerships with talented and independent asset management companies through direct capital ownership. New York-based RBA is an independent registered investment manager with $14.6 billion in AUM and AUA. RBA manages ETF asset allocation SMA portfolios at a number of major RIA platforms, acts as subadvisor to two Eaton Vance-sponsored mutual funds, manages theme-oriented unit trusts and ETFs, and manages assets for other large institutional investors.
Seward & Kissel LLP (www.sewkis.com) is a New York law firm, originally established in 1890, with an international reputation for excellence. The firm’s Business Transactions Group handles middle-market M&A, private equity, venture capital and joint venture transactions involving a wide variety of industries. The firm is ranked as Highly Regarded for Corporate/M&A by Chambers USA and is recommended by The Legal 500 in the middle-market M&A category, stating that Seward & Kissel “advises on market-leading transactions within the industries where the firm has an international reputation, namely investment management and shipping” and “also handles complex middle-market deals in the media industry and international sell-side M&A.“
The company’s press release describing this transaction is available here.