NEW YORK, April 12, 2013 /PRNewswire/ -- Silver Lane Advisors today announces it has represented Prudential Financial, Inc. (NYSE: PRU) on the disposition of its Wealth Management Solutions ("WMS") division to Envestnet, Inc. (NYSE: ENV), a leading provider of unified wealth management technology and services to investment advisors. As of December 31, 2012, Prudential WMS administered approximately $22 billion on behalf of institutional clients.
Prudential WMS has more than 30 years of experience helping financial services firms develop and enhance their wealth management offerings. Seasoned industry experts consult with client firms to help envision, design and implement wealth management offerings to optimize workflows and improve growth and profitability.
The transaction is subject to customary closing conditions, and is expected to close by early third quarter 2013.
This transaction marks Silver Lane's third recent sale of an outsourced wealth management solutions provider and the eighth in the financial services sector in the last year.
About Silver Lane
Based in New York City, Silver Lane is a premier M&A advisor to the financial services industry. The firm serves a broad range of financial services clients, including investment and wealth management firms, multi-family offices, brokerage firms, private and commercial banks, trust and insurance companies, and financial technology firms. Silver Lane advises on mergers & acquisitions, divestitures and sale transactions, recapitalizations, and joint ventures/strategic alliances. The firm also provides valuations, internal ownership transition planning, due diligence, special committee advice and fairness opinions, and market entry strategies. For more information, please visit www.silverlane.com.
SOURCE Silver Lane Advisors