07:37 AM EDT, 09/05/2024 (MT Newswires) -- AssetMark Financial Holdings ( AMK ) said Thursday that its acquisition by private equity firm GTCR has closed.

Following the completion of the $2.7 billion deal, AssetMark will operate as an independent, privately owned firm, the company said.

Lou Maiuri has been named chairman and Group CEO of the parent company AssetMark Financial Holdings ( AMK ), while Michael Kim will continue as president and CEO of AssetMark, the company said.