Artisan Partners

Artisan Partners is an American investment management company headquartered in Milwaukee, Wisconsin. Founded in 1994 by Andrew Ziegler and Carlene Ziegler after their departures from Strong Capital Management, the firm was established as an independent manager built around specialized investment teams and distinct portfolio-management approaches. Its first strategy, launched in 1995, concentrated on small-cap growth equities in the United States. The firm expanded beyond its initial domestic equity focus over the following decade. In 2002, it added a global value team to pursue opportunities outside the United States. In 2006, it established an emerging-markets capability through a team recruited from DuPont Capital Management. The same year, Hellman & Friedman acquired a minority interest in Artisan Partners. Carlene Ziegler retired from the business in 2008 to concentrate on her family’s charitable foundation. Andrew Ziegler moved from chief executive officer to executive chairman in 2010, with Eric Colson succeeding him as CEO. Artisan Partners initially concentrated on equity investing but broadened its capabilities in 2014 by adding a credit team focused on high-yield debt. Its investment platform therefore came to include a range of differentiated equity and credit offerings, including U.S. small-cap growth, global value, emerging markets, and high-yield strategies. In 2018, the firm reorganized its Global Value team into separate groups with distinct mandates for markets outside the United States and for the United States. The company pursued public-market access during a period of changing conditions for investment managers. It withdrew an initial public offering proposal in December 2011 after citing unfavorable market conditions, then returned to the market in 2013. Artisan Partners listed on the New York Stock Exchange on March 7, 2013, under the ticker APAM. The offering proceeds were intended in part to repay debt, repurchase shares from early investors, and make a distribution to pre-IPO partners. Andrew Ziegler later stepped down as executive chairman in 2014 after selling shares in a secondary offering. Beyond managing client assets, Artisan Partners is known for shareholder activism. The firm has publicly pressed companies including Adecco, Johnson & Johnson, Danone, Toshiba, Seven & I Holdings, and Credit Suisse to reconsider leadership, corporate structure, governance, capital allocation, or strategic direction. These interventions reflect the firm’s role as an engaged institutional investor rather than a passive holder. In June 2023, Artisan Partners became a member of the S&P 600 index. The company maintains international offices in Dublin, Hong Kong, London, Singapore, and Sydney, while Milwaukee remains its headquarters.

Artisan Partners was founded in 1994 by Andrew Ziegler and his wife, Carlene Ziegler. Both had worked at Strong Capital Management, where Andrew Ziegler had been president and Carlene Ziegler had been a portfolio manager. The new firm was created as an independent investment manager organized around specialist teams rather than a single centralized investment style. The business began managing money in 1995 with a small-cap growth equity strategy focused on American companies. This initial offering established the firm’s early identity as an active manager seeking differentiated opportunities in less heavily capitalized businesses. In 2002, Artisan Partners broadened its reach by creating a global value team focused on companies and markets outside the United States. Four years later, it added an emerging-markets team through a lift-out from DuPont Capital Management. Hellman & Friedman also took a minority stake in the company in 2006. Carlene Ziegler retired from Artisan Partners in 2008 to devote her time to her family’s charitable foundation. In 2010, Andrew Ziegler left the chief executive role and became executive chairman; Eric Colson succeeded him as CEO. The firm later changed its leadership structure again when Andrew Ziegler stepped down as executive chairman in 2014 after selling shares in a secondary offering. Artisan Partners pursued an IPO in 2011 but withdrew the proposal in December of that year because of market conditions. It revived the offering process in November 2012 and completed the listing on the New York Stock Exchange on March 7, 2013. The offering gave the company public-market access and was also designed to address debt, early-investor liquidity, and distributions to pre-IPO partners. The firm’s investment capabilities expanded beyond equity in 2014, when it added a credit team focused on high-yield debt. In September 2018, Artisan Partners reorganized its Global Value team into two groups: one focused on markets outside the United States and the other on the United States. This preserved the firm’s specialist model while creating more distinct regional mandates. Artisan Partners has also used its position as an institutional shareholder to advocate for corporate change. Its interventions have included criticism of proposed leadership arrangements at Adecco, calls for structural and governance changes at Johnson & Johnson, pressure for a leadership change at Danone, support for Toshiba’s proposed separation, a call for Seven & I Holdings to divide its businesses, and a request that Credit Suisse replace CEO Thomas Gottstein. These activities made shareholder engagement an important part of the firm’s public profile. The company is headquartered in Milwaukee and maintains offices in Dublin, Hong Kong, London, Singapore, and Sydney. Its business remains centered on active investment management across specialized equity and credit strategies. In June 2023, Artisan Partners became a member of the S&P 600 index.

• 2023

  Added to the S&P 600

  [1]Artisan Partnersen.wikipedia.org

  Artisan Partners becomes a member of the S&P 600 index.

• 2018

  Global Value team is reorganized

  [1]Artisan Partnersen.wikipedia.org

  The Global Value team is divided into separate groups serving non-U.S. and U.S. mandates.

• 2014

  Credit platform is added

  [1]Artisan Partnersen.wikipedia.org

  The firm expands from equity management into credit, including high-yield debt investing.

• 2013

  Public listing on the NYSE

  [1]Artisan Partnersen.wikipedia.org

  Artisan Partners completes its IPO and begins trading on the New York Stock Exchange under APAM.

• 2010

  Eric Colson becomes CEO

  [1]Artisan Partnersen.wikipedia.org

  Andrew Ziegler becomes executive chairman and Eric Colson succeeds him as chief executive officer.

• 2006

  Emerging-markets team is added

  [1]Artisan Partnersen.wikipedia.org

  The firm adds an emerging-markets capability through a team recruited from DuPont Capital Management.

• 2006

  Hellman & Friedman takes a minority stake

  [1]Artisan Partnersen.wikipedia.org

  Hellman & Friedman acquires a minority interest in Artisan Partners.

• 2002

  Global value capability is added

  [1]Artisan Partnersen.wikipedia.org

  Artisan Partners establishes a global value team focused on markets outside the United States.

• 1995

  First small-cap growth strategy launches

  [1]Artisan Partnersen.wikipedia.org

  The firm begins with a small-cap growth equity strategy focused on American companies.

• 1994

  Artisan Partners is founded

  [1]Artisan Partnersen.wikipedia.org

  Andrew and Carlene Ziegler establish Artisan Partners after leaving Strong Capital Management.

A specialist, team-based investment manager emphasizing differentiated investment approaches, active research, concentrated expertise, and engagement with portfolio companies.

• Equity investment strategy · 1995

  Small-cap growth equity

  Artisan Partners’ original investment capability, launched in 1995, invests in smaller American companies selected for growth potential. It established the firm’s early specialist and active-management orientation.

• Equity investment strategy · 2002

  Global value

  The global value platform was introduced in 2002 to pursue value-oriented opportunities beyond the United States. It was later reorganized into separate U.S. and non-U.S. groups.

• Equity investment strategy · 2006

  Emerging markets

  Artisan Partners added an emerging-markets team in 2006 through a lift-out from DuPont Capital Management. The capability extends the firm’s equity research and portfolio management into developing economies.

• Credit investment strategy · 2014

  High-yield credit

  Added in 2014, the credit platform broadened Artisan Partners beyond equity investing into high-yield debt and related credit opportunities.

• 2018

  Restructuring of the Global Value teamStrategy

  Background

  The firm sought to create more distinct regional responsibilities within its global value business.

  Action taken

  Artisan Partners divided the Global Value team into a non-U.S. group and a U.S. group.

  Aftermath

  The restructuring created separate mandates for American and non-American markets.

  Source

• 2014

  Expansion into credit investingStrategy

  Background

  Artisan Partners had previously focused on equity investment strategies.

  Action taken

  The firm added a credit team focused on high-yield debt.

  Aftermath

  The move broadened the company’s investment platform beyond equities.

  Source

• 2013

  NYSE public offeringOther

  Background

  After abandoning its 2011 offering, Artisan Partners made a second attempt to become publicly traded.

  Action taken

  The company listed on the New York Stock Exchange on March 7, 2013.

  Aftermath

  The offering provided public-market access and proceeds intended for debt repayment, early-investor share repurchases, and a distribution to pre-IPO partners.

  IPO proceeds. $332 million (2013 IPO)

  Source

• 2011

  Withdrawal of initial IPO proposalOther

  Background

  Artisan Partners had filed for an initial public offering, but market conditions were considered unfavorable.

  Action taken

  The company withdrew its IPO plans in December 2011.

  Aftermath

  Artisan Partners returned to the public markets in 2013 and completed its NYSE listing.

  Source

1. 1Artisan Partnersen.wikipedia.org
2. 2Artisan Partners official websiteartisanpartners.com