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Envestnet said to attract Warburg Pincus, Advent

MIchael Flaherty
Apr 8, 2022
Illustration: Aïda Amer/Axios

Suitors are swooning for Envestnet (NYSE: ENV), a wealth management fintech that news reports say is attracting private equity interest.

Why it's the BFD: Envestnet is a $4.5 billion publicly traded company, meaning it's one of the few, non-private fintech bidding contests at the moment, reportedly led by two major buyout firms: Warburg Pincus and Advent International.

Catchup quick: Bloomberg reported in February that the company was attracting PE interest. Since then, all had been quiet.

Yes, but: This week, an outfit called Citywire said that Warburg and Advent were still in the bidding picture. Not your top quartile M&A news shop, and the article featured some funky wording about the process.

  • Yet investors piled in, sending the stock up nearly 14%

The bottom line: These two buyout firms have the financial firepower to take the company private. Whether the financing markets will cooperate with them is another story.

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