AssetMark to Go Private in $2.7 Billion Sale to Private-Equity Firm GTCR

AssetMark Financial Holdings has agreed to be acquired by private-equity firm GTCR in a deal that would end the turnkey asset manager’s run as a public company. If the deal closes, GTCR will acquire all of AssetMark and pay existing shareholders $35.25 per share in cash, which represents a total equity valuation of approximately $2.7 billion, AssetMark said Thursday. The purchase price represents a 1% premium to AssetMark’s closing price Wednesday of $34.90.