Skadden advised Resolute Investment Managers, while Morrison & Foerster advised OpenInvest on the deal.
Resolute Investment Managers, Inc. has entered into an agreement with OpenInvest through which OpenInvest’s Dynamic Custom Indexing (DCI) platform will be made available across Resolute’s extensive distribution network of investment managers.
Resolute is a diversified, multi-affiliate asset management platform with more than 40 affiliated and independent relationships.
OpenInvest is a registered investment adviser and public benefit corporation leveraging technology to provide customization, direct indexing and impact investing at scale.
The agreement is expected to power further uptake of OpenInvest’s DCI among financial advisors and institutions and allow them to offer separately managed accounts (SMAs) with direct indexing, ESG investment options and tax optimization.
The Skadden team included M&A partners Sonia Nijjar (Picture; Palo Alto) and David Hepp (New York), and associate Joseph Casey (Palo Alto).
The MoFo team included San Francisco-based ECVC partner Brad Kondracki and associates Kate Tyler and Olga Terets, with support from partner Murray Indick, co-chair of the firm’s ECVC Group.
Involved fees earner: Murray Indick – Morrison Foerster; Bradley Kondracki – Morrison Foerster; Olga Terets – Morrison Foerster; Kate Tyler – Morrison Foerster; Joseph Casey – Skadden Arps Slate Meager & Flom; David Hepp – Skadden Arps Slate Meager & Flom; Sonia Nijjar – Skadden Arps Slate Meager & Flom;