AssetMark Financial Holdings, Inc.: Sponsors Coverage Transaction for $2.70B

The facts are sourced from an 8-K filed with the SEC via EDGAR, published on September 5, 2024. The deal's current status is pending regulatory review.

The financial advisory roster on the sponsor side is substantial. UBS Investment Bank and Barclays are each identified as co-lead financial advisors to GTCR, per the statement that "UBS Investment Bank and Barclays served as co-lead financial advisors to GTCR and are providing debt financing support for the transaction," meaning both firms also have a debt financing role alongside their advisory mandate. Jefferies LLC and BofA Securities also served as financial advisors to GTCR in a non-lead capacity, as described in the sentence "BofA Securities and Jefferies LLC also served as financial advisors." On the target side, Morgan Stanley & Co. LLC served as exclusive financial advisor to AssetMark, acting in the lead role, consistent with language stating "Morgan Stanley & Co. LLC served as exclusive financial advisor to AssetMark."

Legal counsel is disclosed on both sides. Davis Polk & Wardwell LLP provided legal counsel to AssetMark (the target), paired with Morgan Stanley's advisory role in the same source sentence. On the acquirer side, Kirkland & Ellis LLP provided legal counsel, and Paul Hastings LLP provided regulatory legal counsel specifically, per the statement "Kirkland & Ellis LLP provided legal counsel and Paul Hastings LLP provided regulatory legal counsel."

Beyond the classification as a take-private/go-private transaction with a $2.7 billion disclosed value, no further detail on consideration structure (e.g., per-share price), financing sources beyond the debt financing support noted from UBS and Barclays, or other deal terms is included in the facts provided.

Several items are not disclosed in this record: the per-share or other specific consideration terms are not given, no expected closing date is stated beyond the pending-regulatory status, and the facts block does not specify which of the sponsor-side banks beyond UBS and Barclays are providing financing versus advisory services only.