Dean V. Krishna

Stradley Ronon represented TradePMR, a custodial and portfolio management platform for Registered Investment Advisors (RIAs), in an approximately $300 million acquisition by Robinhood Markets, Inc., which closed on February 26, 2025. TradePMR has over 25 years in the industry, and the acquisition will accelerate Robinhood’s delivery of investment advisory capabilities to customers by bringing in a scaled RIA custodial platform with approximately 350 firms and more than $40B in assets under administration.

Read more about the acquisition.

Stradley Ronon represented the special committee to Blue Owl Capital Corp. III in a merger into Blue Owl Capital Corp., creating the second largest externally managed, publicly traded business development company (BDC) by total assets, with $18.6 billion of total assets at fair value and investments in 232 portfolio companies on a pro forma combined basis as of September 30, 2024. The combined company will operate as Blue Owl Capital Corp. The transaction closed January 13.

Blue Owl Capital Corp. is a specialty finance company focused on lending to U.S. middle-market companies.

Read Blue Owl Capital’s announcement.

Stradley Ronon represented XPYRIA Investment Advisors, a Pittsburgh-based independent investment adviser, in a merger with Cerity Partners, a financial and wealth advisory firm serving high-net-worth individuals and their families and nonprofit organizations and foundations throughout the United States. The transaction will allow the firms to better serve their Pittsburgh-based clients with a full spectrum of wealth management and financial planning services.

Stradley Ronon represented Denver-based Wealth Legacy Institute, a financial planning and investment management firm, in its merger with Cerity Partners, a financial and wealth advisory firm serving high-net-worth individuals and their families and nonprofit organizations and foundations throughout the United States.

Stradley Ronon represented CenterSquare Investment Management, a global real estate investment manager, in connection with an equity investment in Aligned Data Centers, a fast-growing data center infrastructure technology company offering colocation and build-to-scale data center solutions. The investment, facilitated through CenterSquare’s strategic partnership with Macquarie Asset Management, will support Aligned’s expanding portfolio.

For more information, read CenterSquare’s announcement.

Stradley Ronon advised Franklin Templeton on the formation, registration, listing and launch of the Franklin Bitcoin ETF, one of 11 spot bitcoin exchange-traded funds (ETFs) to receive listing approval from the U.S. Securities and Exchange Commission (SEC) on January 10.

The Franklin Bitcoin ETF offers investors exposure to bitcoin in an ETF wrapper, thereby providing access through traditional securities brokerage accounts and avoiding the complexities of handling bitcoin directly. The Franklin Bitcoin ETF, which trades on Cboe, issues shares backed by bitcoin held by the fund’s custodian.

Our firm represented Chatham Financial, a global leader in financial risk management advisory and technology, in its acquisition of EA Markets, an independent financial advisory firm focused on the capital markets. The acquisition will reinforce Chatham’s position as a leader in derivatives, further its position in capital markets advisory and expand its capabilities in raising capital for its corporate and financial sponsor clients.

Stradley Ronon represented Lumina Financial Consultants, a financial planning and wealth management services provider specifically focused on women and their families, in a merger with Cerity Partners. The firm will operate under the Cerity Partners name, and the partnership will allow the firm to expand its service offerings in the San Francisco Bay Area and develop a footprint in the Richmond, Virginia, metropolitan market.

Stradley Ronon represented Pacific Life Insurance Company with the sale of its third‐party credit asset management firm, Pacific Asset Management, LLC, which manages over $20 billion in assets, to Aristotle Capital Management, LLC. The transaction creates Aristotle Pacific Capital, LLC (Aristotle Pacific).

Stradley Ronon represented Berkshire Asset Management (BAM), a Wilkes-Barre, PA-based RIA with $3.96 billion in AUM that specializes in dividend-focused equity portfolios in the sale of a minority stake to iM Global Partner, a leading global asset management network. BAM will join iM Global Partner’s extensive global asset management family and distribution network.

Stradley Ronon represented McGervey Wealth Management, a wealth management firm with approximately $105 million in AUM, in its sale to Mariner Wealth Advisors. The acquisition offers an expanded suite of service offerings for McGervey’s clients, positions the business for future growth and provides an opportunity to bolster its existing offerings.

Stradley Ronon represented Union Square Capital Partners (USQ), a wholly-owned subsidiary of Chatham Financial Corp, in its acquisition of the management of PREDEX, a real estate focused interval fund with approximately $163 million in AUM. USQ is an investment management firm providing access to inventive strategies for real asset investing and this acquisition highlights the firm’s commitment to its asset management business.

Stradley Ronon represented Bristol, PA-based United Packaging, a leading distributor of high-quality packaging, shipping, safety and janitorial supplies in its acquisition by Envoy Solutions.  Envoy Solutions is a specialized distributor and solution provider serving the U.S. market through regional distributors of packaging, facility care and foodservice supplies.  The acquisition allows United Packaging access to new world-class products and services while being part of a growing national platform. 

Stradley Ronon assisted Berger Rental Communities and its affiliate Berger Investments with the acquisition of three apartment communities in Pennsylvania. Berger Rental Communities is a full-service company that owns and manages apartment communities in Pennsylvania, Delaware and Maryland.

Stradley Ronon represented Hughes Enterprises, a leading packaging distribution company providing world-class packaging supplies and equipment, in its sale to Envoy Solutions, a diversified distribution company. Hughes Enterprises provides customized packaging solutions for a wide range of industries, including automotive parts, beverages, manufacturing and pharmaceuticals. The acquisition will allow Hughes Enterprises to increase its packaging capabilities by utilizing the strength of a national partner.

Stradley Ronon represented AscellaHealth, a global specialty pharmacy and healthcare solutions company, in connection with its consummation of a strategic alliance with Optime Care, a Specialty Pharmacy (SP) servicing small patient communities, to further enhance AscellaHealth’s ability to become a leader in SP services and establish a strong trajectory for growth, including negotiating and closing on AscellaHealth’s financing for such alliance.

Stradley Ronon is representing Atmos, a Japan-based global streetwear and sneaker brand with 49 stores across Asia and the U.S., in its sale to Foot Locker for $360 million.

Stradley Ronon served as counsel in the structured sale of Agilis Med Holdings, LLC, the parent company of Agile Medical, one of the largest e-commerce retailers of sleep apnea and respiratory equipment in the U.S., to AdaptHealth LLC (NasaqCM: AHCO), a full-service home medical equipment company.