• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Investing

Bain Capital to acquire Envestnet in $4.5 billion deal backed by BlackRock and Fidelity

by July 11, 2024
written by July 11, 2024

Private equity firm Bain Capital is set to acquire Envestnet in a $4.5 billion deal, supported by major investors like BlackRock and Fidelity Investments. 

This transaction is poised to significantly impact the financial software and wealth management sectors, making it one of the most notable private equity moves of the year.

Envestnet’s client base and market presence

Envestnet, based in Berwyn, Pennsylvania, is a leading provider of software for wealth managers and data services for financial institutions and investment research firms. 

The company serves a diverse and extensive client base, including 16 of the 20 largest U.S. banks and 48 of the top 50 wealth management and brokerage firms. 

This widespread adoption underscores Envestnet’s pivotal role in the financial services industry.

Transaction details and stock performance

Bain Capital has agreed to pay $63.15 per share in cash for Envestnet, slightly above the company’s closing stock price of $63.07 just before the deal was announced. 

This small premium reflects confidence in Envestnet’s value and future potential.

Leadership transition and board changes

The acquisition comes during a significant transition period for Envestnet. 

Last year, the company added three new directors to its board after pressure from activist investor Impactive Capital, which had urged Envestnet to enhance its performance through cost-cutting measures. 

In January, CEO Bill Crager announced he would step down in April, transitioning to a senior adviser role as part of the company’s broader strategy to adapt in a competitive market.

Historical context and recent financial performance

Envestnet has previously explored a sale, notably in 2022, after receiving interest from potential buyers. Despite uncertainties, Envestnet reported better-than-expected profits in the first quarter of this year, demonstrating the company’s resilience and ability to deliver value to stakeholders. 

Envestnet has also been collaborating with major financial entities like BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors to develop customized investment strategies, further solidifying its market position.

Broader implications for the financial services industry

The acquisition of Envestnet by Bain Capital, supported by prominent investors, marks a significant development in the financial services industry. It underscores the growing interest of private equity in technology-driven financial solutions. 

As Envestnet continues to innovate and expand its offerings, this deal is expected to have far-reaching implications for the wealth management and financial software sectors.

The involvement of investors such as BlackRock and Fidelity Investments highlights the strategic importance of this acquisition. 

Their backing suggests a strong belief in Envestnet’s potential to drive growth and deliver substantial returns. 

This acquisition not only bolsters Bain Capital’s portfolio but also reinforces Envestnet’s position as a leader in the financial services industry.

Bain Capital’s acquisition of Envestnet, with the support of key investors, marks a pivotal moment in the financial software and wealth management sectors. The deal reflects confidence in Envestnet’s future potential and underscores the strategic importance of technology-driven financial solutions in today’s market.

The post Bain Capital to acquire Envestnet in $4.5 billion deal backed by BlackRock and Fidelity appeared first on Invezz

0 comment
0
FacebookTwitterPinterestEmail

previous post
Tesla tanks on Robotaxi delay
next post
Morgan Stanley cuts ON Semiconductor to Underweight: Should you sell?

related articles

Asian markets open: Nikkei, Hang Seng fall on...

June 12, 2025

Aluminum and steel tariffs spark rise in secondary...

June 12, 2025

Airbus sees aviation boom ahead, global fleet to...

June 12, 2025

US-China trade talks and Washington’s decade-long effort to...

June 12, 2025

Europe markets open: Stoxx 600 dips as UK...

June 12, 2025

UK GDP falls by 0.3% in April as...

June 12, 2025

Gordon Brothers buys Poundland; pledges £80 mn for...

June 12, 2025

Air India plane crash: London-bound flight with 242...

June 12, 2025

Air India plane crash live update: Indian President...

June 12, 2025

Copper remains supported for now even as China...

June 12, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • House GOP doubts grow as Johnson digs in on funding fight: ‘Playing with a government shutdown’

    September 10, 2024
  • Trump says US will deal ‘directly’ with Iran in high-level meeting on Saturday

    April 7, 2025
  • Turkey’s markets plunge on the arrest of Erdogan’s rival Ekrem Imamoglu, Lira hits record low

    March 19, 2025
  • Nifty and German 40: Nifty is still on the defensive 

    July 25, 2024
  • Trump posts ‘how it’s going’ message contrasting Time Person of the Year cover with mugshot

    December 14, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 3

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 4

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (5,223)
  • Investing (634)
  • Stock (829)

Latest Posts

  • Trump Agriculture pick confirmed as president racks up Cabinet wins

    February 13, 2025
  • 5 wild ways Democrats have embraced the Monty Python strategy of politics

    December 4, 2024
  • Hamas agrees to release 10 more hostages

    May 31, 2025

Recent Posts

  • Ripple and Tron: Tron under pressure is going to a new low

    July 23, 2024
  • Resolution punishing Al Green clears Dem blockade, advances to House-wide vote after Trump speech

    March 6, 2025
  • Trump quips he’d ‘love’ to run against Obama in hypothetical third-term presidency

    April 1, 2025

Editor’s Pick

  • China accuses US of ‘turning space into a warzone’ with Trump’s Golden Dome missile defense project

    May 21, 2025
  • DOGE joins budget battle on side of Defense Department

    March 14, 2025
  • Ford to spend $3 billion to expand large truck production to a plant previously set for EVs

    July 18, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock