GTCR to buy wealth management tech AssetMark for $2.7 bln (updated)

AssetMark Financial Holdings

25/04/2024 12:33

(Adds detail on offer in paragraph 2)
       April 25 (Reuters) - Private equity firm GTCR has agreed
to buy AssetMark Financial  AMK.N  for $2.7 billion, the wealth
management platform said on Thursday. 
    AssetMark said its shareholders will get $35.25 per share in
cash. The deal will be financed with a credit facility and
capital from funds affiliated with GTCR.
        Concord, California-based AssetMark provides technology
for financial advisers to manage client investment portfolios
and report and analyze their performance.
  
        
  

 (Reporting by Niket Nishant in Bengaluru; Editing by Eileen
Soreng)
 ((Niket.Nishant@thomsonreuters.com;))