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FT Partners Serves as Exclusive Capital Markets / IPO Advisor on Envestnet's Initial Public Offering

FT Partners Serves as Exclusive Capital Markets / IPO Advisor on Envestnet's Initial Public Offering
Overview of Transaction
  • On July 28, 2010, Envestnet, Inc. ("Envestnet" or "ENV") completed an initial public offering of 7,705,825 shares, including overallotment, at $9.00 per share and began trading on the New York Stock Exchange under the symbol "ENV"
  • The net proceeds of the offering will be used for general corporate purposes, including selective strategic investments, acquisitions, alliances or other transactions
  • Envestnet provides a comprehensive platform of wealth management solutions for professional investment advisors, including a range of fee-based investment products, analytic tools, reporting utilities, and other practice management applications
  • As of March 31, 2010, ENV managed or administered approximately $41 billion of investment assets for which Envestnet receives asset-based fees
  • Approximately 8,500 financial advisors representing approximately 185,000 investor accounts use Envestnet's technology platform
Significance of Transaction
  • Envestnet's IPO will enhance its ability to continue growing and better serve its financial advisor client base
  • The offering represents one of several successful public offerings in the investment management and wealth management solutions space in 2010
  • The net proceeds of the offering will be used for general corporate purposes, including selective strategic investments, acquisitions, alliances or other transactions
FT Partners' Role
  • FT Partners served as strategic, financial and Capital Markets / IPO Advisor to Envestnet and its Board of Directors
  • FT Partners assisted in managed the entire IPO process, enabling Management to focus on strategic initiatives related to successfully running the business