Transaction sees new leadership team members join to accelerate Wilshire's delivery of its strategic growth objectives, capitalizing on the global digitization tailwinds to improve outcomes for investors globally.
New York., January 13, 2021 – Wilshire CC Capital, aprivate investment firm focused on investing in and operating high-qualitybusinesses for the long term, and Motive Partners (collectively the“Investor Group”), a private equity firm focused on technology-enabledfinancial services companies, today announced the close of the acquisition of WilshireAssociates (“Wilshire”), a global investment technology and advisorycompany. At the close, Wilshire and its new investors announced their growthvision and new leadership additions to help capitalize on the marketopportunity as a leading world-class data, analytics and investment solutionsprovider.
The leadership team at Wilshire will be augmented by a numberof new executive hires, coordinated by the Investor Group to drive additionalvalue to clients, including the new Chief Executive Officer, Mark Makepeace,Founder of FTSE International and former Chief Executive Officer of FTSERussell, the global index provider that he grew from inception to be a leadingglobal player. Andy Stewart, an Industry Partner at Motive Partners, joins asChief Innovation Officer, having previously co-led BlackRock's AlternativeInvestment platform. Mr. Stewart brings extensive experience building andleading investment businesses across some of the most successful assetmanagement firms in the world. Jody Kochansky, an Industry Partner at MotivePartners, joins as Chief Technology Officer, having previously served as Headof the Aladdin Product Group at BlackRock. Aladdin is an operating system forinvestment professionals that powers every aspect of the investment process,and Mr. Kochansky was responsible for defining and implementing the vision forthe platform used globally by BlackRock and many of BlackRock's largestclients. Nick Teunon, formerly the Chief Financial Officer of FTSEInternational, joins as Chief Financial Officer. Mr. Teunon has significantexperience in both acquisitions and working with internationally focused growthcompanies. Alongside them, Jason Schwarz will continue to lead the investmentand portfolio analytics activities as President and Chief Operating Officer.The team will be focused on driving growth by providing investment solutionsthat deliver impact and value to existing and prospective clients, bothorganically and through acquisitions.
"The foundation Wilshire has built over nearly fivedecades provides us with a unique opportunity to deliver innovative solutionsto the market, driving real benefits for our clients. I believe that thiscompany, with its deep pool of talent, can unlock great value for those weserve," said Mark Makepeace, Chief Executive Officer of Wilshire.
“Ahead of the retirement of our founder, Dennis Tito, weidentified a set of experienced executives that we believe uniquely complementthe existing talent and our growth aspirations and strategy of Wilshire.Working alongside Mark, Andy, Jody and Nick, we will have the opportunity tocreate long-term value as we improve outcomes for investors globally,"commented Jason Schwarz, President & COO of Wilshire.
The investment management industry's rapid technologicalevolution presents opportunities for all aspects of the value chain. Withits new leadership additions renowned forpioneering in the industry, Wilshire will build on its strong foundations byexecuting a growth strategy focused on product innovation and technology-enabledcapability enhancements while maintaining its unique focus on improvinginvestment outcomes for current and prospective clients around the globe.
“The leadership team we've structured is well-equipped toensure our innovation roadmap supports the existing business, first andforemost enhancing client offerings and creating market efficiencies. Havingworked with Jody at BlackRock, I have seen the impact that technology andpragmatism can have in partnership, and Wilshire is uniquely well-placed toleverage this intersection for the benefit of its clients and the industry morebroadly," said Andy Stewart, Chief Innovation Officer of Wilshire.
“Building upon Wilshire’s long-standing commitment toproviding clients with deep insights and analytics, we are excited to focus onthe digitization of the entire advisory and investment process. Technology willenable us to more closely partner with our clients across asset allocation,manager and product research, and portfolio construction andimplementation," said Jody Kochansky, Chief Technology Officer ofWilshire.
Effective immediately, the firm will operate under its shortername - Wilshire - as part of a comprehensive global brand evolution, includingthe rollout of a new identity and digital assets through the first quarter ofthe year.
PJ Solomon, Broadhaven Capital Partners and UBS served asfinancial advisors and Kirkland & Ellis, Paul, Weiss, Rifkind, Wharton& Garrison and Skadden Arps Slate Meagher & Flom served as legaladvisors in connection with the transaction.
More information on CC Capital can be found at www.cc.capital
More information on Motive Partners can be found at www.motivepartners.com
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