Private equity company GTCR has completed its acquisition of AssetMark Financial Holdings, the parent company of AssetMark, the turnkey asset management and technology provider. With the acquisition, AssetMark has been delisted from the public markets and is now an independent, privately owned company.

AssetMark announced it had agreed to the sale in April, and it was approved unanimously by the company’s board of directors. Stockholders received $35.25 per share in cash based on an equity valuation of $2.7 billion.

Related: AssetMark To Acquire $12B In Assets From Morningstar Wealth TAMP

The company has also appointed Lou Maiuri, former president, chief operating officer and head of investment servicing at State Street Bank, as chairman and group CEO of AssetMark Financial Holdings. AssetMark President and CEO Michael Kim will continue in his role. Both will join the board.

The two leaders will focus on expanding AssetMark’s product capabilities, according to a statement.

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“The wealth management industry is evolving, and the technology solutions and services that AssetMark provides will play a critical role in shaping outcomes for clients, their businesses, and ultimately, the investors they serve,” Maiuri said in a statement. “I look forward to working closely with GTCR, Michael, and the entire AssetMark team to strategically grow the business and unlock the company’s future potential.” 

The AssetMark platform supports custom portfolio creation, management, advanced analytics, performance reporting, and asset custody services.

In recent years, the firm has added financial planning via its acquisition of Voyant, and prospecting and marketing, among other technologies, to build an end-to-end platform solution for advisory firms.

According to securities filings, Chinese securities firm Huatai Securities purchased a majority stake in the firm for $768 million in 2016, ultimately owning almost 70% of the company.