Holland & Knight Advises Reich & Tang Deposit Networks on Investment from Estancia Capital Partners
NEW YORK (December 31, 2021) – Holland & Knight advised Reich & Tang Deposit Networks, LLC (R&T) on its agreement to receive a significant investment from Estancia Capital Partners. The transaction, which closed on Dec. 31, 2021, involved a premerger notification with the Federal Trade Commission and a 30-day waiting period pursuant to the Hart-Scott-Rodino Act.
R&T is a leading administrator of reciprocal deposit networks for banks and insured cash sweep programs for broker-dealers and other financial institutions. The investment from Estancia is intended to accelerate R&T's continued expansion within the fast-growing and dynamic cash management market.
Estancia is a specialist private equity firm focused on lower-middle market investments in institutional quality asset management, wealth management, capital markets structure and related business services and technology firms.
Holland & Knight Partner Jeff Bell and Associate Eli Gordon led the firm's representation of R&T. They were assisted by Partners Bill Sherman, John Dierking, Elizabeth Schartz, Neely Munnerlyn, Robert Hill, Leonard Bernstein and Charlie Stutts.