Artisan Partners

Last updated

Artisan Partners Asset Management Inc.
Type Public company
Industry Investment management
FoundedDecember 1994;29 years ago (1994-12)
Founders
  • Andrew Ziegler
  • Carlene Ziegler
Headquarters
Milwaukee, Wisconsin
,
United States
Key people
Eric Colson (CEO)
Products
RevenueDecrease2.svg US$993.29 million (2022)
Decrease2.svg US$344.10 million (2022)
Decrease2.svg US$206.76 million (2022)
AUM US$146.4 billion (July 2023)
Total assets Increase2.svg US$1.23 billion (2022)
Total equity Decrease2.svg US$279.36 million (2022)
Number of employees
Increase2.svg 549 (2022)
Website www.artisanpartners.com
Footnotes /references
[1]

Artisan Partners is an American asset management company headquartered in Milwaukee, Wisconsin. Outside the United States, the company has offices in Dublin, Hong Kong, London, Singapore and Sydney.

Contents

History

In 1994, Andrew Ziegler, the President of Strong Capital Management left the firm to found Artisan Partners with his wife Carlene who also worked at the firm as a portfolio manager. [2] [3] [4] [5]

In 1995, Artisan partners started its first fund strategy in small-cap growth equity for American companies. [2]

In 2002, Artisan partners added a global value team to focus on markets outside the United States. [2]

In 2006, Hellman & Friedman took a minority stake in Artisan Partners. [2] [6] In the same year, Artisan Partners added an emerging markets team via a liftout from DuPont Capital Management. [2] [3] [7]

In 2008, Carlene Ziegler retired from the company to focus on her family's showjumping horse business. [3] [5]

In 2010, Andrew Ziegler stepped down from his role as CEO to take the new role of executive chairman and was succeeded by Eric Colson. [2] [3] [5]

In April 2011, Artisan Partners filed for an initial public offering (IPO). [2] [8] However, in December, it withdrew its IPO plans citing unfavourable market conditions . [2] [9]

In November 2012, Artisan Partners made a second attempt to go public. [2] [10] On March 7, 2013, it successfully listed on the New York Stock Exchange (NYSE) opening at $35.20 per share which was 17% above its $40 offer price and raised a total of $332 million. The company planned to the proceeds to repay debt, buy back shares from early investors and pay a distribution to pre-IPO partners [2] [3] [11] [12]

In 2014, Artisan Partners which up to this point only handled equity investments, added a credit team to invest in high-yield debt. [2] [13] In the same year Andrew Ziegler stepped down as executive chairman after selling 1.4 million shares during a secondary market offering. [2] [3] [14]

In September 2018, Artisan Partners restructured its Global Value team into two groups. One will invest outside of American markets while the other will focus on American markets. [15]

In June 2023, Artisan Partners became a member of the S&P 600 index. [16]

Shareholder activism

In May 2015, Artisan Partners called for The Adecco Group to reconsider appointing Alain Dehaze as its CEO. [17]

In January 2016, Artisan Partners called for Johnson & Johnson to consider separating its three divisions, consumer products, pharmaceuticals and medical devices into standalone companies. It also suggested replacing board members and reviewing standards for executive pay and financial reporting. [18] The consumer health division of Johnson & Johnson was later spun off as Kenvue and listed on the NYSE in May 2023. [19]

In February 2021, Artisan Partners urged the board of directors of Danone to oust its chairman and CEO, Emmanuel Faber. On March 15, 2023, the board ousted Faber with 10 out of 15 members voting against him. [20] [21]

In December 2021, Artisan backed Toshiba's plan to split into three companies. [22]

In January 2022, Artisan Partners called for Seven & I Holdings to split up the company. [23]

In May 2022, Artisan Partners called for Credit Suisse to replace its CEO, Thomas Gottstein. [24] In July 2022, Gottstein resigned and was replaced by Ulrich Körner. [25]

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References

  1. ↑ "2022 Annual Report". Artisan Partners.
  2. 1 2 3 4 5 6 7 8 9 10 11 12 "The history of Artisan Partners". Pensions & Investments. March 28, 2014. Retrieved August 22, 2023.
  3. 1 2 3 4 5 6 "Artisan Partners going strong a year after IPO". Pensions & Investments. March 28, 2014. Retrieved August 22, 2023.
  4. ↑ "Head of Strong To Start Firm (Published 1994)". The New York Times. November 1, 1994. Retrieved August 22, 2023.
  5. 1 2 3 Marriage, Madison (October 26, 2014). "Artisan Partners hitches its wagon to the stars | Financial Times". www.ft.com. Retrieved August 22, 2023.
  6. ↑ Corcoran, Jason (May 9, 2006). "Hellman & Friedman takes Artisan stake". Financial News.
  7. ↑ "Artisan picks up DuPont emerging markets team". Pensions & Investments. December 15, 2006. Retrieved August 22, 2023.
  8. ↑ "Artisan Partners moves toward IPO". Pensions & Investments. April 7, 2011. Retrieved August 22, 2023.
  9. ↑ Warner, Melodie (December 29, 2011). "Artisan Partners Withdraws IPO Plans Citing Unfavorable Market". Wall Street Journal. ISSN   0099-9660 . Retrieved August 22, 2023.
  10. ↑ "Artisan Partners Plans to Raise Up to $250 Million in IPO". Bloomberg.com. November 1, 2012. Retrieved August 22, 2023.
  11. ↑ Dieterich, Chris (March 7, 2013). "Asset-Manager Artisan Partners Climbs in IPO". Wall Street Journal. ISSN   0099-9660 . Retrieved August 22, 2023.
  12. ↑ "Artisan Jumps in Trading Debut After Pricing IPO Above Range". Bloomberg.com. March 7, 2013. Retrieved August 22, 2023.
  13. ↑ "Artisan Partners Hires Manager for New High-Yield Team". Morningstar, Inc. November 25, 2013. Retrieved August 22, 2023.
  14. ↑ "UW honors noted entrepreneurs with achievement awards". news.wisc.edu. Retrieved August 22, 2023.
  15. ↑ McElhaney, Alicia (September 10, 2018). "Artisan Partners Splits Global Value Team". Institutional Investor. Retrieved August 22, 2023.
  16. ↑ "Palo Alto Networks Set to S&P 500; Others to Join S&P MidCap 400 and S&P SmallCap 600". News Release Archive. Retrieved August 22, 2023.
  17. ↑ "Investor Artisan urges Adecco to change mind on CEO appointment". Reuters. May 12, 2015. Retrieved August 22, 2023.
  18. ↑ "Investor pressures J&J to consider split up: sources". Reuters. January 28, 2016. Retrieved August 22, 2023.
  19. ↑ Constantino, Annika Kim (May 4, 2023). "J&J's consumer-health spinoff Kenvue jumps 22% in public market debut". CNBC. Retrieved August 22, 2023.
  20. ↑ Abboud, Leila (February 17, 2021). "Danone shake-up demanded by big shareholder". Financial Times. Retrieved August 22, 2023.
  21. ↑ Segal, Julie (March 18, 2021). "Inside Artisan's Battle With Danone — And What Critics Got Wrong". Institutional Investor. Retrieved August 22, 2023.
  22. ↑ "Artisan's $9 Billion Manager Eyes Backing Toshiba Plan to Split". Bloomberg.com. December 21, 2021. Retrieved August 22, 2023.
  23. ↑ Slodkowski, Antoni; Lewis, Leo (January 24, 2022). "7-Eleven owner faces investor calls to split up | Financial Times". Financial Times. Retrieved August 22, 2023.
  24. ↑ Hirt, Oliver; Neghaiwi, Brenna Hughes (May 19, 2022). "EXCLUSIVE Major Credit Suisse shareholder calls for new CEO". Reuters. Retrieved August 22, 2023.
  25. ↑ Makortoff, Kalyeena; correspondent, Kalyeena Makortoff Banking (July 27, 2022). "Credit Suisse chief executive resigns after turbulent two years". The Guardian. ISSN   0261-3077 . Retrieved August 22, 2023.
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