Investment Firm Artisan Partners Withdraws IPO

Artisan Partners Asset Management Inc., a Milwaukee, Wisc.-based investment firm, has withdrawn plans for an initial public offering, citing unfavorable market conditions, Reuters reported. In April, the investment management firm had filed with the U.S. Securities and Exchange Commission for an IPO of up to $250 million.

(Reuters) – Artisan Partners Asset Management Inc filed with U.S. regulators on Thursday to withdraw its initial public offering, citing unfavorable market conditions.

In April, the investment management firm had filed with the U.S. Securities and Exchange Commission for an IPO of up to $250 million.

The Milwaukee, Wisconsin-based firm had planned to use part of the proceeds from the offering to repay debts.

Citigroup and Goldman, Sachs & Co were the lead underwriters of the offering.