Capital Resource Advisors acquired BARRA RogersCasey for $14 million, according to Kevin Greene, CRA chairman and CEO. BARRA RogersCasey has oversight of $350 billion in institutional client assets, bringing CRAs total assets under advisement to more than $800 billion.
The new entity will be renamed CRA RogersCasey. John Dickson, CEO of CRAs investment consulting group, will oversee the new firm. BARRA Inc., parent of BARRA RogersCasey, expects to reap net proceeds of about $11 million, resulting in an estimated pre-tax gain on the sale of $7 million to $8 million.