Bain Capital to buy financial software vendor Envestnet in $4.5 bln deal

Private equity firm Bain Capital will buy Envestnet in a $4.5 billion deal, with backing from a cohort of investors, including BlackRock and Fidelity Investments, the financial software vendor said on Thursday.

Berwyn, Pennsylvania-based Envestnet offers software for wealth managers and data for financial institutions and investment research firms.