Obra Capital, a portfolio company of RedBird Capital Partners and Reverence Capital Partners, completed a super priority secured debtor-in-possession credit and security agreement for GWG Holdings, a financial services firm based in Dallas.
TIAA entered into a definitive agreement to sell TIAA Bank to new investors with experience in financial services, including Stone Point Capital, Warburg Pincus, Reverence Capital Partners, Sixth Street and Bayview Asset Management.
David Shapiro joined Vida Capital as managing director. In this role, Shapiro will be responsible for continuing to grow Vida’s alternative asset strategies across the capital spectrum and asset types.
Wells Fargo Asset Management’s closed-end funds will change their names to include the name Allspring, with the name change expected to go into effect on Oct. 11. Wells Fargo Asset Management will also change its name to Allspring Global Investments.
Wells Fargo entered into a definitive agreement to sell Wells Fargo Asset Management to GTCR and Reverence Capital Partners for $2.1 billion. The sale includes Wells Fargo’s business of acting as trustee to its collective investment trusts and all related Wells Fargo Asset Management legal entities.