Artisan Partners Asset Management has requested its IPO be withdrawn from registration, citing “unfavorable market conditions,” according to a filing Thursday with the SEC.
The Milwaukee-based equity manager filed a preliminary prospectus with the SEC in early April. According to the original prospectus, Artisan planned to use the proceeds of the IPO to repay a portion of the firm's outstanding debt, to purchase some of the interests held in the firm by “certain of our initial outside investors,” and for “general corporate purposes.”
Artisan's assets under management totaled $51.8 billion as of Sept. 30.
Artisan requested that all fees paid to the SEC in connection with the April filing be credited for future use should the company decide to issue an IPO at a later date.
Artisan Managing Director Mike Roos was not available for comment.