As we announced this morning in our press release, Advent’s Board of Directors has completed a review of strategic alternatives and determined that continuing as an independent public company is the best way for Advent to continue to deliver the value our clients, employees and shareholders expect.
I know that the rumors created some anxiety with our clients and especially for the Advent team. Let me assure you that we are committed to fulfilling our purpose, which is to help our clients thrive and transform the investment management industry. We have our eye on the long-term success of our clients and company and are committed to building shareholder value. Why did we investigate alternatives in the first place? Advent’s Board of Directors exercised its fiduciary duty to evaluate the best possible way forward for creating shareholder value. The conclusion was strong support to execute our strategy as an independent public company.
It is gratifying to have the evaluation process completed with strong affirmation that our strategy is the right path forward. Since our founding, the people of Advent have built an incredible business by focusing on helping our clients thrive, and the process we’ve just been through simply reaffirmed that we will continue our tradition of client, shareholder, and employee commitment into the future. Thank you for your support, and here’s to the great things ahead!