“The board and its advisers conducted a process to maximize value for shareholders,” said Jim Fox, Envestnet’s chair and interim CEO. Bill Crager, co-founder of Envestnet, added, “This is a great outcome for Envestnet’s clients and employees, and one that maintains its entrepreneurial spirit. Envestnet is exceptionally well positioned to continue to build a gateway to the future of financial advice.”
Advisory and Financial Support
Morgan Stanley & Co. served as the exclusive financial adviser to Envestnet. Bain Capital’s financial advice was spearheaded by J.P. Morgan Securities. The transaction also received committed debt financing and additional financial advice from RBC Capital Markets, BMO Capital Markets, Barclays, and Goldman, Sachs & Co. Additional debt financing was provided by funds managed by Ares Management, Blue Owl Capital, and Benefit Street Partners.
Bain Capital $4.5B Acquisition of Envestnet : Legal Representation
Ropes & Gray LLP represented Bain Capital with a comprehensive team including private equity partners Will Shields, David Hutchins, and Jessica Cooney; M&A partners Thomas Holden and Thomas Fraser; finance partners Scott Rolnik and Byung Choi; asset management partners Jessica Reece, Brynn Rail, and Greg Davis; litigation and enforcement partners Dan McCaughey, Jonathan Klarfeld, Ama Adams, Nick Berg, and Martin Crisp; executive compensation and employee benefits partners Renata Ferrari and Josh Lichtenstein; data, privacy, and cybersecurity partner Ed McNicholas; tax partner Pamela Glazier; IP transactions partner Erica Han; employment partner Megan Bisk; and business restructuring partner Ryan Dahl.
