Ropes & Gray Advises VettaFi on $175 Million Investment by TMX Group Limited
Ropes & Gray represented U.S. data analytics company VettaFi Holdings LLC in an investment by TMX Group Limited, the owner of the Toronto Stock Exchange. TMX Group acquired approximately 21% of the common equity of VettaFi for US$175 million. The transaction closed January 9, 2023 and was announced in a press release.
VettaFi is headquartered in New York City and provides a suite of global indices through its index factory, ETF services including ETF trends and analytics and offers asset managers an array of indexing and digital distribution solutions to innovate and scale their businesses. TMX Group’s investment aims to accelerate TMX Group's global index strategy and increase the depth and value of data-driven insights provided to clients.
The Ropes & Gray team was led by private equity partner Garrett Charon and private equity counsel Ellen Wheeler, and included asset management counsel Ed Baer, IP transactions partner Violetta Kokolus, tax and benefits partner Danna Kivell, and tax partner Benjamin Rogers.