Affiliated Managers Group
Encyclopedia
Affiliated Managers Group Inc. is an American holding company
headquartered in Beverly, Massachusetts
that owns a number of financial-sector companies. AMG has been described as an "aggregator of investment management firms". Founded in 1980 as a privately owned company, its initial public offering on the New York Stock Exchange
occurred in November 1997.
When purchasing companies, AMG seldom buys 100% of a business. They typically allow the employees of the purchased company to retain a quarter to a half of the company, in an attempt to provide them with an incentive to maximize profit. On rare occasions, they will only purchase a minority share in a company. AMG purchased a 5 percent share in Value Partners Group Ltd. in 2009. The company, a Chinese asset manager, was AMG's first investment in China.
In the 1990s, AMG focused on purchasing midsize money management companies. In a shift of strategy in 1997, they purchased the large mutual fund company Tweedy, Browne
for $300 million. In 2010, AMG purchased Pantheon Ventures
. Pantheon, a British private equity
company, was AMG's largest aquisition since 1993. The company sold for $775 million. That year, AMG also purchased Artemis Investment Management LLP
for $400 million. The CEO of AMG, Sean M. Healey, received compensation of $19,968,321 in 2010, making him the third highest paid CEO of a Massachusetts based company.
Holding company
A holding company is a company or firm that owns other companies' outstanding stock. It usually refers to a company which does not produce goods or services itself; rather, its purpose is to own shares of other companies. Holding companies allow the reduction of risk for the owners and can allow...
headquartered in Beverly, Massachusetts
Beverly, Massachusetts
Beverly is a city in Essex County, Massachusetts, United States. The population was 39,343 on , which differs by no more than several hundred from the 39,862 obtained in the 2000 census. A resort, residential and manufacturing community on the North Shore, Beverly includes Beverly Farms and Prides...
that owns a number of financial-sector companies. AMG has been described as an "aggregator of investment management firms". Founded in 1980 as a privately owned company, its initial public offering on the New York Stock Exchange
New York Stock Exchange
The New York Stock Exchange is a stock exchange located at 11 Wall Street in Lower Manhattan, New York City, USA. It is by far the world's largest stock exchange by market capitalization of its listed companies at 13.39 trillion as of Dec 2010...
occurred in November 1997.
When purchasing companies, AMG seldom buys 100% of a business. They typically allow the employees of the purchased company to retain a quarter to a half of the company, in an attempt to provide them with an incentive to maximize profit. On rare occasions, they will only purchase a minority share in a company. AMG purchased a 5 percent share in Value Partners Group Ltd. in 2009. The company, a Chinese asset manager, was AMG's first investment in China.
In the 1990s, AMG focused on purchasing midsize money management companies. In a shift of strategy in 1997, they purchased the large mutual fund company Tweedy, Browne
Tweedy, Browne
Tweedy, Browne Company LLC is an American investment advisory and fund management firm founded in 1920. It currently manages almost 6 billion US dollars in separate accounts and three mutual funds. All of the funds are managed in accordance to the principles of Value Investing as popularized by...
for $300 million. In 2010, AMG purchased Pantheon Ventures
Pantheon Ventures
Pantheon is a private equity investment manager, operating through a series of fund of funds as well as a publicly traded private equity vehicle, Pantheon International Participations. Pantheon invests through new private equity funds as well as secondary market purchases of existing private...
. Pantheon, a British private equity
Private equity
Private equity, in finance, is an asset class consisting of equity securities in operating companies that are not publicly traded on a stock exchange....
company, was AMG's largest aquisition since 1993. The company sold for $775 million. That year, AMG also purchased Artemis Investment Management LLP
Artemis Investment Management LLP
Artemis Investment Management LLP is independent and owner-managed. Artemis opened for business in 1997. Its aim was outstanding investment performance and client service. All Artemis’ fund managers still share these two precepts — and the same flair and enthusiasm for fund management...
for $400 million. The CEO of AMG, Sean M. Healey, received compensation of $19,968,321 in 2010, making him the third highest paid CEO of a Massachusetts based company.