HOUSE_OVERSIGHT_012051.jpg
911 KB
Extraction Summary
4
People
9
Organizations
0
Locations
2
Events
3
Relationships
2
Quotes
Document Information
Type:
News article / web printout
File Size:
911 KB
Summary
This document is page 2 of 4 of a Bloomberg article printed on November 14, 2017. It details a financial deal where Viking Global, a hedge fund founded by Andreas Halvorsen, is backing a Rockefeller wealth firm led by Fleming. The article discusses the restructuring of the firm, the involvement of the Rockefeller family trust, and the legal and financial advisors involved (Ardea Partners, Willkie Farr & Gallagher, Paul Weiss). It mentions assets under management for both Rockefeller & Co ($10.9B) and Viking Global ($25B). The document bears the Bates stamp HOUSE_OVERSIGHT_012051.
People (4)
| Name | Role | Context |
|---|---|---|
| Fleming | Executive/Manager |
Leading the Rockefeller wealth firm; quoted regarding industry strategy and investments.
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| John D. Rockefeller | Founder (Historical) |
Oil baron who started the family office 135 years ago.
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| Andreas Halvorsen | Founder |
Founder of Viking Global.
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| Chris Cole | Investment Banker |
Veteran of Goldman Sachs, founder of Ardea Partners.
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Organizations (9)
| Name | Type | Context |
|---|---|---|
| Viking Global |
Backing the Rockefeller wealth firm; managing private-equity fund owning majority of business.
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| Rockefeller & Co. |
The firm being backed; oversees $10.9 billion.
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| Miami Marlins |
Mentioned as an example of investment type (baseball team).
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| Ardea Partners |
Advised the Rockefeller family office.
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| Goldman Sachs Group Inc. |
Former employer of Chris Cole.
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| Willkie Farr & Gallagher LLP |
Provided legal advice to Rockefeller family office.
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| Paul, Weiss, Rifkind, Wharton & Garrison LLP |
Legal adviser to Viking Global.
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| The Wall Street Journal |
Reported on Fleming's new role.
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| Bloomberg |
Source of the article.
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Timeline (2 events)
2017-10-04
Article published regarding Viking Global backing Rockefeller wealth firm.
N/A
Relationships (3)
Viking Global to back firm led by Fleming; Fleming investing alongside Viking.
Rockefeller family office was advised by Ardea Partners... formed by Chris Cole.
Viking Global, which was founded by Andreas Halvorsen
Full Extracted Text
Complete text extracted from the document (1,895 characters)
11/14/2017 Viking Global to Back Rockefeller Wealth Firm Led by Fleming - Bloomberg
He said a deal to purchase the Miami Marlins baseball team that he was involved in earlier this year was an example of the sort of investment the firm’s clients might be interested in.
A private-equity fund managed by Viking will own the majority of the business, while Fleming and others in management will invest, he said. A trust representing the broader Rockefeller family will remain an owner, though it’s selling some of its stake as part of the transaction.
Rockefeller & Co., which began 135 years ago as the family office of oil baron John D. Rockefeller, oversees about $10.9 billion for families and other institutional investors, and advises on another $5.3 billion, according to the statement. Fleming said that Viking’s capital will be used to expand these businesses, as well as building an advisory arm.
“The industry is very fragmented,” Fleming said. For independent companies that combine wealth and asset management, as well as advisory, “there’s room, if you do it well, to really generate some market share, especially for a firm with a brand as good as Rockefeller,” he added.
Viking Global, which was founded by Andreas Halvorsen, has about $25 billion under management, making it one of the biggest hedge funds in the world.
The Rockefeller family office was advised by Ardea Partners, an investment bank formed last year by Goldman Sachs Group Inc. veteran Chris Cole and a handful of former colleagues. Willkie Farr & Gallagher LLP provided legal advice, according to the statement. Paul, Weiss, Rifkind, Wharton & Garrison LLP was legal adviser to Viking Global.
The Wall Street Journal reported on Fleming’s new role earlier Wednesday.
https://www.bloomberg.com/news/articles/2017-10-04/viking-global-to-back-rockefeller-wealth-firm-led-by-fleming
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