Why you might want to own Artisan Partners

Artisan Partners (APAM $27-$29) is a fund manager with $75B of funds under management. Of course they have a story and a strategy and some good performance but they are still a fairly conventional fund manager. Having said that they have proposed a transaction that has some attractive features:

  1. First and foremost is the quarterly dividend of $0.43/share which represents a yield of 6.1% at the mid-point of the filing range. Not bad.
  2. Post the deal employee ownership will be 52% which goes a pretty long way to aligning their interests . . .

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