Milwaukee-based Artisan Partners Asset Management Inc. reported net income of $3.0 million, or 19 cents per share, in its first quarter as a publicly traded company.
The company closed on its initial public offering on March 12.
The firm’s stock is now traded on the New York Stock Exchange with the ticker symbol of APAM.
Eric Colson, president and chief executive officer of Artisan Partners, said, “We have focused on providing high value-added investment management to sophisticated clients since Artisan Partners was founded in 1994. We believe that offering active investment management requires a commitment to attracting and retaining experienced investment talent. As a result, we design and manage our business model to create an investment culture in which our talent can thrive. The firm’s IPO was one of several strategies we have executed over the years to allow us to manage our business according to those foundational principles over multiple generations. As a public company, our communications with shareholders will reflect this deliberate, long-term focus.”
At the end of the first quarter, the company’s assets under management exceeded $80 billion.
The company promoted Charles Hamker and Andrew Euretig to portfolio managers of its global equity strategy.