PE firm GTCR to buy wealth management platform AssetMark for $2.7 bln [Reuters]
AssetMark Financial Holdings, Inc. (AMK)
Company Research
Source: Reuters
By Reuters April 25 (Reuters) - Private equity firm GTCR has agreed to pay $2.7 billion to buy AssetMark Financial , in a deal that would take the wealth management platform private more than five years after its initial public offering. The acquisition will help expand GTCR's footprint in the financial services industry. Founded in 1980, the firm has made big gains in healthcare, financial and technology markets. It manages $40 billion of equity, and its portfolio includes Worldpay, which payment services provider Fidelity National Information Services sold in last year. Report this ad AssetMark's shareholders will get $35.25 per share in cash, it said on Thursday, and the deal will be financed with a credit facility and capital from funds affiliated with GTCR. AssetMark's shares fell 2% before the bell. GTCR's offer price represents a 1% premium to the stock's last close, but is more than 30% higher than where it was trading at before media reports on a potential st
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AMK
News
- AssetMark Reports $116.9B Platform Assets for First Quarter 2024 [Yahoo! Finance]Yahoo! Finance
- AssetMark Reports $116.9B Platform Assets for First Quarter 2024GlobeNewswire
- INVESTIGATION: The M&A Class Action Firm Announces An Investigation of AssetMark Financial Holdings, Inc. - AMKPR Newswire
- AssetMark Financial Holdings, Inc. (NYSE: AMK) was downgraded by analysts at JPMorgan Chase & Co. from an "overweight" rating to a "neutral" rating. They now have a $37.00 price target on the stock.MarketBeat
- INVESTIGATION ALERT: The Schall Law Firm Announces it is Investigating Claims Against AssetMark Financial Holdings, Inc. and Encourages Investors to Contact the FirmAccesswire
AMK
Earnings
- 5/1/24 - Beat
AMK
Sec Filings
- 5/1/24 - Form 8-K
- 4/25/24 - Form 8-K
- 4/9/24 - Form ARS
- AMK's page on the SEC website