GTCR to Acquire AssetMark


May 13, 2024

On April 30, 2024, Signature Estate & Investment Advisors, LLC announced it acquired Cedar Brook Group.

GTCR Golder Rauner LLC (“GTCR”) announced that it had signed a definitive agreement to acquire AssetMark Financial Holdings, Inc. (“AssetMark”) (NYSE: AMK). AssetMark stockholders will receive $35.25 per share in cash, which represents a total equity valuation of approximately $2.7 billion. Under the terms of the agreement, GTCR will acquire a 100% interest in the Company. Further terms of the transaction were not disclosed.

GTCR, based in Chicago, is a private equity firm focused on investing in growth companies in the media and telecommunications, technology, financial services and technology, healthcare, and growth business services industries. As of March 2024, GTCR had $40 billion in assets under management. Barclays served as financial advisor to GTCR on the transaction.

AssetMark, based in Concord, California, is a provider of wealth management and technology solutions for independent financial advisors and their clients. As of March 2024, AssetMark had $116.9 billion in platform assets.

To read the press release: please click here.

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