October 4, 2017

Rockefeller Financial Services agreed to merge with an entity formed by Viking Global Investors and Gregory Fleming, forming Rockefeller Capital Management.

On October 4, it was announced that Willkie client Rockefeller Financial Services, Inc. (RFS), the parent company of Rockefeller & Co., and financial services executive Gregory J. Fleming have agreed to form Rockefeller Capital Management, an independent financial services firm focused on wealth management, asset management and strategic advisory. The firm will look to build upon the 135-year history in wealth and investment management associated with the Rockefeller family through the addition of broader capabilities and new growth capital.

Viking Global Investors LP will back the firm through an investment by one of its investment funds. Mr. Fleming, a longtime financial services executive, will become the Chief Executive Officer of Rockefeller upon closing.

As of June 30, 2017, Rockefeller & Co. has approximately $16.2 billion in assets under advisement for individuals and families, family offices, nonprofit organizations, foundations, endowments, and global institutions.  Viking, with offices in Greenwich, New York, San Francisco, Hong Kong and London, manages approximately $25 billion in capital.

The Willkie deal team was led by partners Gordon Caplan and Rosalind Fahey Kruse and associate Robert Rizzo, and included partners Jay Spinola, Christopher Peters, David Katz and Michael Katz; counsel Spencer Simon; associates Frances Dales, Stephen Forster, Patrick Quinn, Kal Dargan and Ryan Stott and law clerk Benjamin Figoten.