Vident Advisory, LLC has announced that entrepreneur Casey Crawford has signed a definitive agreement to acquire Vident’s personnel and business operations currently operating as Vident Advisory, LLC, Vident Investment Advisory, LLC and Vident Financial, LLC, and will be doing business going forward under the brand Vident Asset Management.
Terms of the agreement are not being disclosed, but the entire leadership team at Vident, including CEO Vince Birley, COO/CFO Deborah Kimery, and President Amrita Nandakumar, will remain in place, as will their colleagues across the firm’s various business lines. As part of the transaction, Crawford will also be making a significant growth equity investment in Vident Asset Management. Closing of the transaction is subject to customary closing conditions, and the transaction is expected to close in the late second or early third quarter of this year.
“We have built a strong foundation at Vident over the past decade, and in Casey we have aligned with someone who has a lengthy track record of acquiring firms with strong growth potential and providing them with the capital needed to scale and build for the future,” says Birley. “As we got to know Casey through this process, it became clear that we could not be more closely aligned on the best ways in which to continue to grow this business and in how we value our people and our clients. This will be a memorable day in the evolution of Vident.”
Crawford is the co-founder and CEO of Movement Mortgage, described as one of the leading retail mortgage lenders in the country and a six-time member of the Inc. 5000 list. The former NFL Super Bowl champion also serves as chairman of Movement Bank and Movement Insurance. While Vident will be affiliated with Crawford’s other companies, it will be owned directly by Mr. Crawford via a separate holding company.
“I have been impressed with what the team at Vident has built, and under their continued leadership I’m eager to see them take this exciting business, which operates in some of the most dynamic areas of asset management, to the next level,” says Crawford.
“When you align on a vision like we have with Casey, you can accomplish any number of amazing things. In the near future, we will be investing aggressively in our trading and operational platform, our personnel, and several new business lines,” says Nandakumar.
“The response from clients as we have been circulating this news has been overwhelmingly positive, and we cannot wait to share all that is still to come as we embark on this incredible new chapter.”
As part of the firm’s new brand, Vident Asset Management has also unveiled a new website: åwww.videntam.com.
