Bain Capital may be set to buy Envestnet, Reuters reports; Sudden RIA industry mega PE player must find CEO, resolve Yodlee riddle to move forward

The famed Boston private equity firm already has big stakes in Carson Wealth and CI Financial and may be in the hunt for other acquisitions.

Author Brooke Southall July 8, 2024 at 11:25 PM

2 Comments

John Connaughton: Taking Bain Capital deep into the RIA industry.

Keith Girard contributed to the editing of this article.

Envestnet

Bain

Mike Wunderli

Brian Murphy

July 9, 2024 — 5:03 AM

So, in essence, Taylor Wolfe added no value to the ENV enterprise whatsoever...and may be paid accordingly. And Yodlee continues to be an Albatross around the company's neck. The obvious play for PE buyers would be to take control, pay themselves fat dividends while dismantling the company piece by piece and then sell of the remaining carcass to another PE buyer at a marked up price. Got it.

Harrison Smith

July 9, 2024 — 3:45 PM

How would selling to PE at market price benefit Envestnet? They could stay public, fire sale Yodlee, and carry-on making progress with their core businesses. PE ownership will be the death of the business.

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Mentioned in this article:

Envestnet Inc
TAMP
Top Executive: Jud Bergman