Artisan Partners Asset Management Inc. Closes $162.5 Million Synthetic Secondary OfferingFebruary 28, 2017
S&C client Artisan Partners Asset Management Inc. closed a $162.5 million synthetic secondary offering, selling 5,626,517 shares of its Class A common stock at a price of $28.88 per share. The offering was structured as an underwritten block trade.
All of the proceeds of the offering were used by Artisan to purchase common units of Artisan Partners Holdings LP, a wholly owned direct subsidiary of Artisan. The selling holders included executive officers and employees of Artisan, as well as an entity controlled by Artisan's founders.
Artisan is an investment management firm based in Milwaukee, Wisconsin, that provides a broad range of U.S., non-U.S. and global investment strategies through mutual funds and separate accounts. As of February 17, Artisan's assets under management totaled approximately $102 billion. This transaction follows S&C's representation of Artisan in connection with its IPO in March 2013 and subsequent offerings in November 2013, March 2014, June 2014 and April 2015.
The S&C corporate team was led by Catherine Clarkin, along with Brian Farber and Courtland Morrice. Meredith Lazarus provided valuable support.