Bain Capital has successfully completed its acquisition of Envestnet, valuing the deal at approximately $4.5 billion, with a share price of $63.15. The transaction also saw participation from minority stakeholders including Reverence Capital, Norwest, BlackRock, Fidelity Investments, Franklin Templeton, and State Street Global Advisors.

The acquisition was first announced in July, following a challenging period for Envestnet. The firm faced scrutiny from shareholders and industry analysts regarding its aggressive acquisition strategy and the integration of its various entities. Shareholder approval for the sale was granted in September, about nine months after co-founder Bill Crager stepped down as CEO. Crager continues to serve as a senior advisor to the company.

This acquisition marks a significant move for Bain Capital in the financial services sector, as it aims to enhance Envestnet's capabilities and address previous operational challenges.