Artisan Partners Asset Management Inc. Enters $150M Revolving Credit Facility

What Happened

• On September 23, 2026, Artisan Partners Holdings LP (of which Artisan Partners Asset Management Inc. is sole general partner) entered into a credit agreement providing a $150 million five-year revolving credit facility with Bank of America, Citibank and Royal Bank of Canada as lead arrangers/agents. Holdings may request increases up to a $225 million aggregate commitment. The new facility matures September 23, 2031, and replaced the prior revolving credit agreement dated August 16, 2022. As of the September 25, 2026 filing date, there were no outstanding borrowings under the new facility.

Key Details

• Facility size: $150 million initial revolving credit line, expandable to $225 million subject to conditions.
• Maturity: September 23, 2031.
• Interest: Borrowings at Holdings’ election either (a) Term SOFR (or Daily Floating Term SOFR) + margin of 1.25%–2.00% (margin tied to leverage) or (b) a base rate (highest of federal funds + 0.50%, BofA prime, Term SOFR + 1.00%, or 1.00%) + margin of 0.25%–1.00% (tied to leverage).
• Fees and covenants: Unused commitments bear a commitment fee of 0.125%–0.275% per annum. Financial covenants require consolidated leverage ≤3.00:1 (temporary increase to 3.50:1 after certain qualifying acquisitions) and consolidated interest coverage ≥4.00:1.
• Guarantees: Artisan Partners Limited Partnership and Grandview Property Partners, LLC (both wholly owned subsidiaries of Holdings) guaranteed Holdings’ obligations.

Why It Matters

• This facility provides Artisan’s holding company with a multi-year liquidity backstop to support working capital, capital return programs, acquisitions or other corporate needs without current borrowings.
• Interest rates and fees are variable and tied to Holdings’ leverage, so borrowing costs will depend on the company’s balance-sheet leverage. The covenants set limits on leverage and require a minimum interest coverage ratio—metrics investors should monitor if the company draws on the facility or pursues acquisitions.
• The termination of the prior 2022 facility and entry into a new five-year agreement reflect the company’s current financing arrangements and available credit capacity; there was no immediate change in cash/debt on the filing date because no amounts were outstanding.