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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
no description available
John Connaughton: Taking Bain Capital deep into the RIA industry.
Keith Girard contributed to the editing of this article.





Mike Wunderli

Brian Murphy

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

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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May 7, 2024 at 5:04 AM

Michael Nathanson's new post as Focus CEO could create an 'apparent conflict' with his duties at Colony Group, which is snapping up billions in Focus RIA assets -- but 'partners' now have one of theirs in the power seat

The CEO of Colony, the $22-billion Boston RIA, is buying $10.4-billion GW & Wade from Focus, making him buyer and seller, as he takes the reins as first permanent Focus CEO since Rudy Adolf.

May 1, 2024 at 3:02 AM

April 10, 2024 at 2:54 AM

Dani Fava is out at Envestnet -- to capitalize on AI revolution at a new firm, she hints

The ex-TD Ameritrade talent was hired by CEO Bill Crager in 2020 to harmonize acquisitions -- not least MoneyGuidePro and Yodlee that the company still grapples with

March 20, 2024 at 1:25 AM

See more related moves

Mentioned in this article:

Envestnet Inc
Top Executive: Jud Bergman

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