Manatt’s Financial Services Partner Neil Faden and Corporate and Finance Partner Scott Schwartz successfully represented Valley National Bank, a regional bank with approximately $41 billion in assets, in the acquisition of Dudley Ventures, an advisory firm specializing in the investment and management of tax credits. The transaction includes the acquisition of Dudley Ventures entities DV Community Investment, DV Fund Advisors and Dudley Ventures Advisory Services. Over its 20-year history, Dudley Ventures and its affiliates have invested over $2 billion in tax credit transactions, and through its Community Development Entity (CDE), DV Community Investment has been awarded more than $500 million in New Markets Tax Credit (NMTC) allocations from the Community Development Financial Institutions (CDFI) Fund over the past ten years.
Valley National Bank’s partnership with Dudley Ventures will provide impactful tax credit investments in support of renewing and revitalizing economically distressed communities nationwide and building stronger communities across the country.
To learn more about the acquisition, click here.