Management at Artisan Partners Asset Management
] is not happy with current market woes. Reuters reports
that unfavorable market conditions prompted the Milwaukee-based mutual fund firm today to file to withdraw its initial public offering [see filing
The Milwaukee Business Journal
and the Milwaukee Journal Sentinel
also reported on the news.
Artisan Partners first filed in April for an IPO worth up
to $250 million [see MFWire.com, 4/6/2011
The firm is majority-owned by employees and brought in $382.2 million in revenue in 2010. Artisan had planned to repay debts using part of the proceeds from the IPO.
The underwriters for the offering were Citigroup Global
and Goldman Sachs & Co.
Stay ahead of the news ... Sign up for our email alerts now