Management at Artisan Partners Asset Management [profile] 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 Markets Inc. and Goldman Sachs & Co. 

Edited by: HFD


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