Artisan Partners' 29% first-day pop is best from a pure-play, traditional asset manager in 15 years

By
A A A

Artisan Partners Asset Management ( APAM ), an equity-focused investment manager with $74 billion AUM, traded up 29% on its first day of trading on Thursday. On Wednesday, Artisan raised $332 million after pricing at $30, above the proposed range of $27 to $29.

The first-day gain was the best for a pure-play, traditional asset manager in 15 years. The last traditional asset manager to go public, Manning & Napier ( MN ), traded exactly flat on its first day of trading in November 2011, after pricing 25% below its proposed midpoint. More recently, Silvercrest Asset Management withdrew an IPO attempt in November 2012.

Best first-day gains for pure-play, traditional asset manager IPOs since 1998
Company Offer Date Deal Size First-Day Gain
 Artisan Partners Asset Management ( APAM ) 3/6/2013 $332 million 29.4% 
 WP Stewart & Co. (WPL) 12/7/2000 $258 million 22.5% 
 Waddell & Reed ( WDR ) 3/4/1998 $499 million 14.9% 
 Pzena Investment Management ( PZN ) 10/24/2007 $110 million 11.6% 
 Calamos Asset Management ( CLMS ) 10/27/2004 $360 million 10.7% 






The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: News Headlines , IPOs

Referenced Stocks: APAM , CLMS , MN , PZN , WDR

Renaissance Capital

Renaissance Capital

More from Renaissance Capital:

Related Videos

Stocks

Referenced

Most Active by Volume

91,252,153
  • $13.78 ▼ 4.31%
68,133,496
  • $12.93 ▲ 6.77%
57,268,074
  • $46.13 ▲ 2.47%
43,432,023
  • $105.22 ▲ 0.37%
40,880,685
  • $13.46 ▲ 8.90%
40,712,405
  • $98.62 ▲ 0.82%
39,776,976
  • $16.72 ▲ 0.72%
34,688,871
  • $11.16 ▲ 3.05%
As of 10/24/2014, 04:15 PM

Find a Credit Card

Select a credit card product by:
Select an offer:
Search
Data Provided by BankRate.com