Davis Polk advised AssetMark Financial Holdings, Inc. on its SEC-registered initial public offering of 14,375,000 shares of common stock for an aggregate price to the public of approximately $316 million, including 1,875,000 shares sold by Huatai International Investment Holdings Limited, the selling stockholder, pursuant to the underwriters’ option to purchase additional shares. The shares are listed on the New York Stock Exchange under the symbol “AMK.”
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.
The Davis Polk corporate team included partner Alan F. Denenberg and associates Jeffrey C. Lau, Tierney O’Rourke and Blake Anderson. Partner David H. Schnabel provided tax advice. Partner Veronica M. Wissel and counsel Gregory D. Hughes provided executive compensation advice. The financial institutions team included partners John Banes and Jai R. Massari. Partner Yang Chu provided Hong Kong regulatory advice. Members of the Davis Polk team are based in the Northern California, New York, Washington DC and Hong Kong offices.