Davis Polk & Wardwell LLP advised Morgan Stanley & Co. Incorporated, UBS Securities LLC and Barclays Capital Inc. as joint book-running managers on the $63 million SEC-registered initial public offering of 7,000,000 shares of common stock of Envestnet, Inc., of which 4,705,500 shares were sold by Envestnet, Inc. and 2,294,500 shares were sold by selling shareholders. The shares are listed on the New York Stock Exchange under the symbol “ENV.”

Based in Chicago, Envestnet, Inc. is a leading independent provider of technology-enabled, Web-based investment solutions and services to financial advisers.

The Davis Polk corporate team included partner Richard D. Truesdell Jr., associates Jeannette K. Safi, Adam Rachlis and Miya C. Kang and summer associate Christopher Robertson. Partner Danforth Townley and associate Aaron Schlaphoff provided investment adviser regulatory advice. Counsel Gerard Citera and associate Zachary J. Zweihorn, of the Washington DC office, provided broker-dealer regulatory advice. Partner Jean M. McLoughlin and associate Jennifer Freiman provided employee benefits advice. Partner Frank J. Azzopardi and associate Pritesh P. Shah provided intellectual property advice. Counsel Marcie A. Goldstein provided FINRA advice. Partner Mary Conway and associates Andrew Teruo Hayashi and Jason A. Chlipala provided tax advice. Johanna M. Anchundia was the legal assistant on the transaction. Except where noted above, all members of the Davis Polk team are based in the New York office.