Bain Capital acquires financial tech company Envestnet in a $4.5B deal, transitioning it from public to private.

Bain Capital is set to acquire financial technology company Envestnet in a deal valued at $4.5 billion. Envestnet, which specializes in providing software solutions for financial advisors and wealth managers, has a market value of approximately $3.5 billion. The acquisition is expected to be completed in the fourth quarter, transitioning Envestnet from a publicly traded company to a privately held one. Envestnet's clients include over 108,000 financial advisors, 16 of the top 20 U.S. banks, and numerous top-tier wealth management and brokerage firms.

July 11, 2024
25 Articles