New York – August 2, 2021 – Cooley advised Vanguard Group on its agreement to acquire Just Invest, a provider of tax-managed, tailored wealth management technology. The deal marks the first corporate acquisition by the world's second-largest asset manager. Geoffrey Starr and Abraham Kwon led the Cooley team advising Vanguard.
Through the acquisition of Just Invest and its innovative investment capabilities, Vanguard is poised to better serve advisers with broader, cost-effective access to tax-efficient, personalized investment solutions. The planned acquisition underscores Vanguard's ongoing efforts to leverage internal and external talent, resources and capabilities to fuel innovative solutions that help to meet evolving client needs and drive better client outcomes, and is part of a broader push to reshape the company beyond an index firm.
"Technology-driven solutions such as direct indexing continue to reshape our industry, driving better investment outcomes and lowering costs for clients," Tim Buckley, chairman and CEO of Vanguard, said in a news release. "Wise investments in technology are an important equalizer, enabling us to democratize valuable investment capabilities and products. We are excited to welcome the Just Invest team and direct indexing capabilities to Vanguard to better serve our clients."
Headquartered in Pennsylvania, Vanguard is one of the world's largest investment management companies and manages $7.9 trillion in global assets. The firm offers 417 funds to its more than 30 million investors worldwide.
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