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Wealth manager Focus Financial plans to go public

Focus Financial Partners Inc. filed for an initial public offering of its class A common stock.

The proposed maximum aggregate offering price is $100 million, estimated solely for calculating the registration fee.

New York-based Focus is a partnership of independent, fiduciary wealth management firms operating in the registered investment adviser industry, with more than 50 partner firms across the country. For the year ended Dec. 31, 2017, Focus reported total revenues of $662.9 million, net loss of $48.4 million, adjusted EBITDA of $145.2 million and adjusted net income of $96.6 million.

An investor group led by private equity firms Stone Point Capital LLC and KKR & Co. LP acquired a majority stake in Focus for approximately $2 billion.

The shares are expected to be listed on the NASDAQ Global Select Market under the symbol FOCS.

Goldman Sachs & Co. LLC, Merrill Lynch Pierce Fenner & Smith Inc., KKR Capital Markets LLC, BMO Capital Markets Corp., RBC Capital Markets LLC and SunTrust Robinson Humphrey Inc. are joint book-running managers for the offering. Keefe Bruyette & Woods Inc., Raymond James & Associates Inc. and William Blair & Co. LLC are acting as co-managers.

Ruediger Adolf is the founder, CEO and Chairman of Focus.