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Artisan Partners Asset Management to sell class A common shares

Artisan Partners Asset Management Inc. has agreed to sell 644,424 of its class A common shares in a public offering.

Based on a closing share price Feb. 22 of $33.78, S&P Global Market Intelligence calculates a gross offering size of about $21.8 million.

The asset manager intends to use all of the net proceeds of the offering to purchase 644,424 common units of its subsidiary Artisan Partners Holdings LP from certain limited partners of Artisan Partners Holdings. Following the closing of the transaction, Artisan Partners Asset Management's employees will own about 22% of the economic interests in the company.

J.P. Morgan is acting as the underwriter for the offering.