Wilshire Associates Acquisition is Completed, Hires Former CEO of FTSE Russell

Posted on 01/14/2021


New York-based CC Capital is a private investment firm focused on investing in and operating businesses for the long term, and Motive Partners, a private equity firm focused on technology-enabled financial services companies, announced the close of the acquisition of Wilshire Associates, an investment consulting and advisory firm.

The leadership team at Wilshire will be augmented by a number of new executive hires, coordinated by the buyers to drive additional value to clients, including the new Chief Executive Officer, Mark Makepeace, Founder of FTSE International and former Chief Executive Officer of FTSE Russell, the global index provider that he grew from inception to be a leading global player. Andy Stewart, an Industry Partner at Motive Partners, joins as Chief Innovation Officer, having previously co-led BlackRock’s Alternative Investment platform. Jody Kochansky, an Industry Partner at Motive Partners, joins as Chief Technology Officer, having previously served as Head of the Aladdin Product Group at BlackRock. Aladdin is an operating system for investment professionals that powers every aspect of the investment process, and Mr. Kochansky was responsible for defining and implementing the vision for the platform used globally by BlackRock and many of BlackRock’s largest clients. Nick Teunon, formerly the Chief Financial Officer of FTSE International, joins as Chief Financial Officer.

Founded in 1972, Wilshire advises on over US$ 1.1 trillion in assets and manages US$ 76 billion in assets.

“Ahead of the retirement of our founder, Dennis Tito, we identified a set of experienced executives that we believe uniquely complement the existing talent and our growth aspirations and strategy of Wilshire. Working alongside Mark, Andy, Jody and Nick, we will have the opportunity to create long-term value as we improve outcomes for investors globally,” commented Jason Schwarz, President & COO of Wilshire in a press release.

Effective immediately, the firm will operate under its shorter name – Wilshire – as part of a comprehensive global brand evolution, including the rollout of a new identity and digital assets through the first quarter of the year.

Advisors

PJ Solomon, Broadhaven Capital Partners and UBS served as financial advisors and Kirkland & Ellis, Paul, Weiss, Rifkind, Wharton & Garrison and Skadden Arps Slate Meagher & Flom served as legal advisors in connection with the transaction.

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