Artisan Partners to go public
Milwaukee-based investment management firm Artisan Partners Asset Management Inc. has filed documents with the U.S. Securities and Exchange Commission (SEC) for an initial public offering, indicating its plans to go public.
The company plans to raise up to $250 million from the sale of its stock to the public.
In its SEC filing, the company said it had net income of $42.5 million in 2010 and total revenues of $382.3 million.
In the filing, Artisan Partners said it wants to become a public company to: “preserve our independence by putting in place a process for existing owners to realize the value of their equity over a structured time frame; allow us to maintain our equity ownership culture and support our talent-focused business model by establishing a simple mechanism for sharing ownership among value producing employees; and to create additional financial flexibility, which we believe will allow us to continue to manage and grow our business in a disciplined way.”
Artisan Partners was founded in 1994 and has 237 employees. The firm’s corporate headquarters is located at 875 E. Wisconsin Ave. in downtown Milwaukee.