We are advising AssetMark on the transaction

Davis Polk is advising AssetMark Financial Holdings, Inc. on its acquisition by private equity firm GTCR. Under the terms of the transaction, AssetMark stockholders will receive $35.25 per share in cash, which represents a total equity valuation of approximately $2.7 billion. The transaction is subject to customary closing conditions and required regulatory approvals and is expected to close in the fourth quarter of 2024.

AssetMark is a leading provider of extensive wealth management and technology solutions that power independent financial advisers and their clients. Through AssetMark, Inc., its investment adviser subsidiary registered with the Securities and Exchange Commission, AssetMark operates a platform that comprises fully integrated technology, personalized and scalable service and curated investment platform solutions designed to make a difference in the lives of advisers and their clients. AssetMark is headquartered in Concord, California.

Founded in 1980, GTCR is a leading private equity firm that partners with management leaders in core domains to identify, acquire and build market-leading companies through organic growth and strategic acquisitions.

The Davis Polk corporate team includes partners Alan F. Denenberg and Michael Gilson and associates Rong (Fiona) Huang and Ivey Eugene. Partner Veronica M. Wissel and associate Elizabeth Smith are providing executive compensation advice. Partner Kara L. Mungovan is providing tax advice. Partner Gregory S. Rowland and counsel Matthew R. Silver are providing investment management advice. Partner Sanders Witkow is providing finance advice. Members of the Davis Polk team are based in the Northern California and New York offices.

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