Investor group led by Mousse Partners, Progeny 3, and Abrams Capital joins Viking Global Investors and the Rockefeller and Desmarais families

Transaction values Rockefeller Capital Management at over $6.6 billion and involves significant support from existing investors

Rockefeller Capital Management (“Rockefeller” or “the firm”) today announced a successful recapitalization at an enterprise valuation of over $6.6 billion, marking a significant milestone in the firm’s growth trajectory and long-term strategic plan. The investor group for this transaction—led by Mousse Partners, Progeny 3, and Abrams Capital—brings together several distinguished families and investors in a business alliance alongside Viking Global Investors and the Rockefeller and Desmarais families. The transaction is anticipated to close by no later than December 31, 2025.

“We are pleased to welcome Mousse Partners, Progeny 3, and Abrams Capital as partners who share our commitment to excellence and our vision for the future,” said Gregory J. Fleming, President & Chief Executive Officer of Rockefeller Capital Management. “Above all, our unwavering focus is on delivering exceptional outcomes and an unparalleled standard of service for our clients, whose trust and achievements inspire and guide every facet of our firm’s mission. The continued support from our existing investors underscores the strength and momentum of our firm as we enter this next phase of growth. This recapitalization represents a significant step forward, fully aligned with Rockefeller Capital Management’s long-term strategic objectives.”

The transaction received material support from Viking Global Investors, the Rockefeller family, and IGM Financial Inc., in which the Desmarais family holds an interest.¹ Rockefeller Capital Management’s leadership team, led by Fleming, remain meaningful shareholders of the firm, underscoring their deep alignment with its long-term success. Viking Global Investors remains the firm’s largest investor, continuing an eight-year partnership that has helped shape the firm’s trajectory.

“Greg and the Rockefeller leadership team have brought our shared vision of building a leading wealth management platform to life. It has been an exciting journey to support them for these past eight years,” said Brian Kaufmann, Head of Private Investments at Viking Global Investors. “We look forward to the next chapter with Rockefeller and this expanded group of like-minded investors.”

“This recapitalization marks an exciting new chapter for Rockefeller Capital Management,” said David Rockefeller Jr., Director of Rockefeller Capital Management and fourth-generation family member. “By welcoming these new partners alongside our existing investors, we are not only strengthening our foundation and expanding our ability to deliver exceptional service but also forging meaningful bonds between the Rockefeller family and these other distinguished families and investors. Together, we look forward to building lasting relationships and pursuing new opportunities for our clients and the firm.”

Rockefeller Capital Management remains steadfast in its strategic focus and operating cadence, fully aligned with its long-term growth plans. This partnership with new and existing families and investors will not impact day-to-day operations of Rockefeller’s businesses – Rockefeller Global Family Office, Rockefeller Asset Management, and Rockefeller Global Investment Banking. The firm continues to build on its legacy of excellence, serving high-net-worth and ultra-high-net-worth individuals, families, institutions, and corporations from offices across the United States and in London. With the support of both longstanding and new investors, Rockefeller is poised to accelerate its mission—delivering sophisticated financial solutions, cultivating enduring relationships, and exploring the expansion of its reach globally.

Legal advisory support for the transaction was provided by a group of leading firms: Wachtell, Lipton, Rosen & Katz advised Rockefeller Capital Management; Cleary Gottlieb advised Viking Global Investors; Sullivan & Cromwell advised the Rockefeller Family Trust; Eversheds Sutherland advised IGM Financial Inc.; Willkie Farr & Gallagher advised both Mousse Partners and Progeny 3; and Ropes & Gray advised Abrams Capital.

About Rockefeller Capital Management

Rockefeller Capital Management was established in 2018 as a leading independent financial advisory services firm. Originally founded in 1882 as the family office of John D. Rockefeller, the Firm has evolved to offer strategic advice to ultra- and high-net-worth individuals and families, institutions, and corporations from offices in 32 markets throughout the United States, as well as an office in London. As of September 30, 2025, the Firm was responsible for $187 billion in client assets across its three businesses, Rockefeller Global Family Office, Rockefeller Asset Management, and Rockefeller Global Investment Banking.

About Viking Global Investors

Founded in 1999, Viking Global Investors (“Viking”) is a global investment firm with a long-term, fundamental, research-intensive approach to investing. Viking manages over $53 billion of capital across public and private investments. Viking has offices in Stamford, New York, Hong Kong, London, and San Francisco, and is registered as an investment adviser with the U.S. Securities and Exchange Commission.

About IGM Financial Inc.

IGM Financial Inc. (“IGM”, TSX: IGM) is a leading Canadian diversified wealth and asset management organization with approximately $303 billion in total assets under management and advisement as of September 30, 2025. The company is committed to bettering the lives of Canadians by better planning and managing their money. To achieve this, IGM provides a broad range of financial planning and investment management services to help approximately two million Canadians meet their financial goals. IGM’s activities are carried out principally through IG Wealth Management and Mackenzie Investments and are complemented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. These strengthen IGM’s capabilities, reach and diversification. IGM is a member of the Power Corporation group of companies.

About Mousse Partners

Mousse Partners, a division of Mousse Investments Limited, oversees a diversified portfolio of assets and invests in private and publicly traded companies, as well as through third-party advised investment funds. Mousse Partners is based in New York City with investment operations in Beijing and Hong Kong.

About Progeny 3

Progeny 3 is a single family office based in Kirkland, Washington.

About Abrams Capital

Abrams Capital is a Boston-based investment firm that manages a diverse pool of private and publicly traded assets.

Risk Disclosures:

1. The Desmarais family holds an interest in IGM Financial Inc. through its ownership in Power Corporation of Canada (which owns approximately 62.7% of IGM Financial Inc.).

The information was prepared by Rockefeller Capital Management for informational purposes only and does not constitute an offer to sell or a solicitation of an offer to buy interests in any Rockefeller Capital Management investment vehicle, product or service.

Rockefeller Capital Management is the marketing name of Rockefeller Capital Management L.P. and its affiliates. Investment advisory, asset management and fiduciary activities are performed by the following affiliates of Rockefeller Capital Management: Rockefeller & Co. LLC, Rockefeller Trust Company, N.A., The Rockefeller Trust Company (Delaware) and Rockefeller Financial LLC, as the case may be.

Client Assets refers to assets under management, brokerage assets, and assets under administration.

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