Artisan Partners [see profile] is taking the IPO path. Today, the Milwaukee-based firm filed papers with the SEC to raise up to $250 million in an IPO [ SEC filing] Citigroup Global Markets Inc. and Goldman, Sachs & Co. are serving as joint book-running managers of the offering.

Artisan's appointment last year of former Legg Mason executive C.J. Daley as its new chief financial officer triggered speculation that the company was putting itself on a path toward an IPO.

Mutual funds accounted for 55 percent of Artisan's total AUM of $57.5 billion as of end-2010. Artisan managed $31.4 billion in mutual fund assets and $26.1 billion in separate accounts as of December 31.

Artisan chalked up revenues of $382.3 million in 2010, according to the SEC filing.

Artisan is majority-owned by employees. In 2006, private equity firm Hellman & Friedman took a minority stake in the firm.

Andrew Ziegler and his wife Carlene Murphy Ziegler, both alums of Strong Funds, started Artisan Partners in 1994.  

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