Casey Crawford, a Super Bowl winner and entrepreneur, has announced plans to acquire Vident Investment Advisory and its affiliates. The terms of the deal were not disclosed, but it is expected to close by the end of the third quarter. All of the boutique firm’s investment, advisory, and financial services lines will be renamed Vident Asset Management after the acquisition. Crawford will make a significant equity investment in the firm at the close of the deal. Vident had approximately $7.1bn in assets under management across products, and it provides subadvisory services for several clients. Crawford’s purchase of Vident represents his foray into asset management as he diversifies his financial services holdings.
ETF Newz Says:
“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,” Birley said in the statement.
