pulled off the first public offering of a mutual fund shop in nearly 16-months, and did it in style.
Artisan's shares closed today at $38.93, nearly 30-percent higher than the $30 price set when the value manager pulled the trigger on its IPO
At $38.93 per share, the Milwaukee-based mutual fund shop boasts a market value of $2.58 billion. As of February 15, 2013, Artisan Partners had approximately $79.5 billion in assets under management. That would translate into a market cap to AUM ratio of 3.25 percent.
The brisk climb attracted the attention of a number of financial news outlets, including the
Wall Street Journal
, Milwaukee-Wisconsin Journal Sentinel
, and the Associated Press
The boom is good news for other asset firms, like Old Mutual
, weighing deals or going public. It seems Mister Market has reacquired his taste for asset managers.
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