Murray Wise Associates LLC announces new identity

Oct 22, 2010
by WLJ
Murray Wise Associates LLC announces new identity

Formerly part of Westchester Group, Inc., Westchester Auctions LLC and Westchester Real Estate, Inc. will now be known as Murray Wise Associates LLC to reflect a change in ownership. In addition, Westchester Capital Advisors LLC will be renamed Murray Wise Capital LLC, which will operate as a wholly owned subsidiary of Murray Wise Associates.

Murray Wise Associates will continue its stature as an industry leading land auction and farm real estate company. Murray Wise Capital will offer investment banking and strategic advisory services to leading global agribusinesses.

Teachers Insurance and Annuity Associations of America (TIAA) recently purchased a majority of the global investment division of Westchester, now known as Westchester Group Investment Management, Inc.

Murray Wise Associates will conduct farm, ranch, timber and recreation land auctions across the U.S. and provide real estate and farm management services for individual clients in Iowa, Kansas, Kentucky, Missouri, Minnesota, Nebraska, North Dakota, Oklahoma, South Dakota and Wisconsin. Murray Wise Capital will help middle-market agribusiness clients meet their liquidity and financing needs by providing mergers and acquisitions, capital raising, restructuring and valuation advice. Westchester will continue to service farm and asset management clients.

Under the leadership of Murray Wise and Ken Nofziger, Murray Wise Associates and Murray Wise Capital will remain headquartered in Champaign, IL, and continue operating additional offices in Colorado, Florida and Iowa.

Randall Pope will serve as president and CEO of the entity under TIAA, and he and Wise will serve on its board of directors. — WLJ