Envestnet to Be Acquired by Bain Capital in $4.5 Billion Take-Private Deal

Paul, Weiss is advising Envestnet, Inc., a leading provider of integrated technology, intelligent data and wealth solutions, in its $4.5 billion take-private acquisition by Bain Capital. Under the terms of the agreement, Envestnet shareholders will receive $63.15 in cash for each share of common stock they own.

Strategic partners BlackRock, Fidelity Investments, Franklin Templeton and State Street Global Advisors have committed to investing in the proposed transaction and will hold minority positions in the private company upon the deal’s completion. Reverence Capital will also participate in the transaction, which is expected to close in the fourth quarter of 2024, subject to customary closing conditions, including stockholder and regulatory approvals.

The Paul, Weiss team is led by partners Robert Kindler, Benjamin Goodchild and Andre Bouchard, and includes corporate partners Ben Steadman, Jarryd Anderson, Timothy Cruickshank, Manuel Frey, Anastasia Peterson, Aaron Schlaphoff, Eric Wedel, Brian Janson and Patricia Vaz de Almeida, and counsel Lyudmila Bondarenko, Arik Hirschfeld, Nathan Mitchell, Jason Tyler, Daniel Meade and David Gerst; executive compensation partners Jarrett Hoffman and Jean McLoughlin; antitrust partners Scott Sher and Ross Ferguson; litigation partners Christopher Wilson, Geoffrey Chepiga and John Carlin, and counsel Audrey Paquet; intellectual property partner Jonathan Ashtor; and tax partner Brian Krause.