Brinker Capital merges (or is acquired), Nerd St raises $10 million

Tom Paine

Two deals today worth knowing about:

Brinker Capital, the highly respected Berwyn-based investment management firm with $24.5 billion assets under management, announced today that is has merged with Omaha-based Orion Advisor Solutions.

Brinker is a practitioner of “behavioral finance,” a growing field which uses investor psychology to help guide investment strategy. Daniel Crosby, Ph.D., is Chief Behavioral officer.

The combined firm, which will carry the Brinker name, has $40 billion under management. Brinker is known as a TAMP, a Turnkey Asset Management Program, competing under the same model as Oaks-based SEI, but smaller. Among other things, Orion brings an excellent technology platform to the party.

Brinker Capital was reported to be for sale in a Barron’s article back in January . Brinker was said to be seeking more than $750 million. Early reports on Orion had said it was on the market seeking $1.875 billion. Terms of the agreement announced today were not revealed.

Existing Orion backer TA Associates was joined by new investor Genstar, who each took equal shares of the combined business.

Nerd Street Gamers raised #10 million from Comcast Spectacor, Five Below, Elevate Capital and SeventySix Capital. Nerd Street’s expansion plans for on-premise gaming sites were slowed by Covid-19, but it found more potential for its online offering and that’s where much of this round will go towards.

But Nerd Street is still looking to raise $25 million more this year to continue its geographical expansion plans, the Philadelphia Business Journal reported.