Silvercrest Asset Management Group, an ultra high net worth individual-focused investment company with $13.6 billion in AUM, announced terms for its IPO on Tuesday. The New York, NY-based company plans to raise $62 million by offering 4.8 million shares at a price range of $12 to $14. At the midpoint of the proposed range, Silvercrest Asset Management Group would command a fully diluted market value of $146 million. Silvercrest initially filed in September 2012, set terms for a $55 million IPO in October, and ultimately withdrew in November.
Silvercrest Asset Management Group, which was founded in 2002 and booked $53 million in sales for the 12 months ended March 31, 2013, plans to list on the NASDAQ under the symbol SAMG. Sandler O'Neill and Raymond James are the joint bookrunners on the deal.
