Artisan Partners (APAM) Asset Management plans to raise as much as $250 million in an initial public offering, its second attempt to go public after withdrawing a registration last year.
Artisan, which had about $70 billion in assets as of Sept. 30, will use proceeds of the sale to repay debt, buy shares from early investors, pay portfolio managers and pre-IPO partners, and contribute to the firm’s working capital, the company said Thursday in a filing with Securities and Exchange Commission. The amount is a placeholder and might change.
Artisan had planned an offering last year before withdrawing its registration in December, citing “unfavorable market conditions.”
The offering is being led by Citigroup and Goldman Sachs. The company plans to list its shares on the New York Stock Exchange under the ticker symbol APAM.