We advised Vestwell on the financing

Davis Polk advised Vestwell Holdings Inc. in connection with its approximately $385 million Series E funding round. The round was led by funds managed by Blue Owl Capital and Sixth Street Growth, with participation from new and existing investors, including Neuberger Berman, SLW, Morgan Stanley, Franklin Templeton, TIAA Ventures and HarbourVest. A portion of the proceeds from the financing transaction were used to assist Vestwell in its acquisition of Accrue 401k, Inc.

Vestwell is a financial technology company that makes it easier for more Americans to save for life’s most important moments, from retirement to education and healthcare. Founded in 2016, it provides a comprehensive suite of workplace savings solutions, including retirement plans, student loan repayment benefits and specialized accounts for education, emergencies and disability savings.

The Davis Polk capital markets team included partners Pedro J. Bermeo, Jared Fine and Byron B. Rooney, counsel Meaghan Kennedy and associate Katie M. Lanphere. The Davis Polk sponsor finance team included partner Nikolaus Caro and associates K. Oliver H. Schauman and Wilson Lin. Partner Corey M. Goodman provided tax advice. Partner Kyoko Takahashi Lin provided executive compensation advice. Members of the Davis Polk team are based in the New York and Washington DC office.

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