Ropes & Gray Advised Bain Capital Portfolio Company Envestnet in Acquisition of Vestmark

Ropes & Gray advised Envestnet, a Bain Capital portfolio company, in its definitive agreement to acquire Vestmark, a premier provider of portfolio management technology, institutional-grade trading, and outsourced investment management services. The transaction was announced on September 9. The deal is expected to close in the fourth quarter of 2026. Financial terms were not disclosed.

Envestnet is a leading Adaptive WealthTech company serving more than a third of all advisors across all its platforms and approximately $8 trillion in platform assets. Ropes & Gray advised Bain Capital on the acquisition of Envestnet in 2024.

Vestmark supports more than $2 trillion in assets and more than five million investor accounts across trading, rebalancing, and tax transition management. The acquisition adds Vestmark's technology and engineering capabilities to Envestnet's ecosystem, with continued investment in both companies' product roadmaps.

The team was led by mergers & acquisitions partner Tom Fraser and private equity transactions associate Kim Ton-That and included asset management partner Keith MacLeod and counsel Jimena Smith, antitrust partner Jonathan Klarfeld, finance partners Byung Choi and Dan Coyne, IP transactions partner Erica Han and counsel Jimmy Chen, data, privacy & cybersecurity partner Ed McNicholas, executive compensation & employee benefits partners Renata Ferrari and Richard Kidd and counsel Sean Smith and Christa Sanchez, and litigation & enforcement counsel Alison McLaughlin.