LPL Investment raises $470M in IPO

LPL Investment Holdings Inc., the brokerage and investment advisory firm owned by private equity firms TPG Capital and Hellman & Friedman LLC, raised $470 million in its initial public offering.
NOV 18, 2010
By  Bloomberg
LPL Investment Holdings Inc., the brokerage and investment advisory firm owned by private equity firms TPG Capital and Hellman & Friedman, raised $470 million in its initial public offering. LPL sold 15.66 million shares for $30 each after offering 15.61 million shares at $27 to $30 apiece, according to its filing with the Securities and Exchange Commission and data compiled by Bloomberg. The Boston-based company will use the proceeds to pay debt, the prospectus said. LPL is one of at least four companies backed by private equity firms scheduled to sell shares in the biggest week for U.S. IPOs since March 2008, data compiled by Bloomberg show. The sale came after the Standard & Poor’s 500 Index today halted its longest stretch of declines in three months. Private-equity firms TPG of Fort Worth, Texas, and San Francisco-based Hellman & Friedman, each owned 36 percent of LPL. Neither firm intended to sell shares in the IPO and would have retained a combined 64 percent stake, based on the original terms of the offering. LPL starts trading tomorrow on the Nasdaq Stock Market under the ticker LPLA. New York-based Goldman Sachs Group Inc. and Morgan Stanley led the sale. Bloomberg

Latest News

The 2025 InvestmentNews Awards Excellence Awardees revealed
The 2025 InvestmentNews Awards Excellence Awardees revealed

From outstanding individuals to innovative organizations, find out who made the final shortlist for top honors at the IN awards, now in its second year.

Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty
Top RIA Cresset warns of 'inevitable' recession amid tariff uncertainty

Cresset's Susie Cranston is expecting an economic recession, but says her $65 billion RIA sees "great opportunity" to keep investing in a down market.

Edward Jones joins the crowd to sell more alternative investments
Edward Jones joins the crowd to sell more alternative investments

“There’s a big pull to alternative investments right now because of volatility of the stock market,” Kevin Gannon, CEO of Robert A. Stanger & Co., said.

Record RIA M&A activity marks strong start to 2025
Record RIA M&A activity marks strong start to 2025

Sellers shift focus: It's not about succession anymore.

IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients
IB+ Data Hub offers strategic edge for U.S. wealth advisors and RIAs advising business clients

Platform being adopted by independent-minded advisors who see insurance as a core pillar of their business.

SPONSORED Compliance in real time: Technology's expanding role in RIA oversight

RIAs face rising regulatory pressure in 2025. Forward-looking firms are responding with embedded technology, not more paperwork.

SPONSORED Advisory firms confront crossroads amid historic wealth transfer

As inheritances are set to reshape client portfolios and next-gen heirs demand digital-first experiences, firms are retooling their wealth tech stacks and succession models in real time.