We advised State Street Global Advisors as a strategic partner in connection with the acquisition

Davis Polk advised State Street Global Advisors as a strategic partner in connection with the $4.5 billion acquisition of Envestment, Inc. by affiliates of vehicles managed or advised by Bain Capital. The transaction also involved participation from Reverence Capital and Norwest, alongside other strategic partners, including BlackRock, Fidelity Investments and Franklin Templeton, all of which hold minority stakes in Envestment.

Headquartered in Boston, Massachusetts, State Street Global Advisors partners with institutional investors all over the world to provide comprehensive financial services, including investment management, investment research and trading, and investment servicing.

Bain Capital, also based in Boston, is one of the world’s leading private multi-asset alternative investment firms.

Based in Berwyn, Pennsylvania, Envestnet is helping to lead the growth of wealth managers and transforming the way financial advice is delivered through its ecosystem of connected technology, advanced insights and comprehensive solutions. Envestnet has served the wealth management industry for 25 years with more than $6.5 trillion in platform assets.

The Davis Polk M&A team included partner Brian Wolfe and associate Steven Jaffe. Partner Luigi L. De Ghenghi and counsel Daniel E. Newman provided financial institutions advice. Partner Michael Mollerus provided tax advice. All members of the Davis Polk team are based in the New York office. 

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