Wilshire Associates Agrees to Sale to Private-Equity Firms

Wilshire Associates said Friday it is being acquired by CC Capital and Motive Partners.

Terms of the deal were not disclosed.

“The foundations Wilshire has built over the last five decades provide a highly compelling opportunity from which to accelerate growth for its clients and the firm,” said Chinh Chu, senior managing director of CC Capital, in a news release announcing the deal.

Rob Heyvaert, managing partner of Motive Partners, added in the release: “We are delighted to be partnering with CC Capital again, combining our teams’ deep knowledge of the sector to execute our transformation plan, benefiting Wilshire’s exceptional client base and future clients.”

Once the deal closes, Dennis Tito will resign as chairman and CEO, and John Hindman will also resign as president and vice chairman, a news release said.

Jason Schwarz, chief operating officer of Wilshire, will also assume the role of president once the transaction is completed.

CC Capital and Motive intend to take advantage of Wilshire’s brand and product capabilities while also providing the investment consulting firm with enhanced technology, data and analytics capabilities, new investment offerings, and expanded partnerships and geographic presence.

The transaction, which is subject to customary closing conditions and required approvals, is expected to close by year-end.

In early 2019, CC Capital and Motive partnered on the acquisition of Dun & Bradstreet Corp., with CC Capital leading the investment team that bought the company, while Stephen C. Daffron, a co-founder of Motive Partners, was appointed its president.

Wilshire advises on more than $1 trillion in assets and manages $73 billion in assets.

Source: Wall Street Journal

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