Envestnet to draw on revolver to help fund FolioDynamix acquisition

By Wendy Van Sickle

Columbus, Ohio, Sept. 25 – Envestnet, Inc. plans to draw down on its revolving credit facility to fund a portion of its acquisition of FolioDynamix for $195 million, according to a press release.

Envestnet will also use cash on its balance sheet to help fund the acquisition of the Secaucus, N.J.-based provider of integrated wealth management technology solutions.

The transaction is expected to close in the first quarter of 2018.

Envestnet is a Chicago-based provider of unified wealth management technology and services to financial advisers.

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