Silvercrest Asset Management Group, an ultra high net worth individual-focused investment company with $11 billion in AUM, officially withdrew its plans for an initial public offering on Wednesday citing poor market conditions. The New York, NY-based company was founded in 2002 and booked $47 million in sales for the 12 months ended 6/30/2012. Sandler O'Neill and Raymond James were set to be the joint bookrunners on the deal.
