On September 9, 2015, OppenheimerFunds [profile] unveiled a deal to buy VTL for an undisclosed sum, and the expected timeframe for closing the deal also was not revealed. At the time, VTL had $1.7 billion in AUM and offered eight ETFs.
VTL Associates, founded by Vince Lowry (whose full name is Vincent Thomas Lowry), is home of the RevenueShares. VTL specializes in so-called "smart beta" investments. Lowry left Salamon Smith Barney at the end of 2004 to found Philadelphia-based VTL.
In 2013 a Chinese private-equity firm, Suzhou Industrial Park Kaida Venture Capital, reportedly paid $7 million for a 22-percent stake in VTL.
Michael Gompers Chief Operating Officer, RevenueShares
Vincent Lowry Lead Portfolio Manager, OppenheimerFunds